Canary Capital Launches First Staked TRX ETF in US Markets

Canary Capital's staked TRX ETF, ticker TRXS, debuted on US markets Sept. 9, offering exposure to Tron's $32.1B market cap token plus proof-of-stake rewards.

Crypto ETF & Institutional Investment News

Canary Capital brought the first staked exchange-traded fund tied to Tron (

) to US markets on Sept. 9, trading under the ticker symbol TRXS. The product allows investors to access the TRX token through standard brokerage accounts without holding the asset directly.

TRX holds a market capitalization of $32.1 billion and ranks as the eighth-largest cryptocurrency by that measure. Beyond price exposure, the fund is structured to capture staking returns generated through Tron's proof-of-stake mechanism, with those rewards folded into the fund's net asset value.

Staking Returns Reflected in Fund Value

The treatment of proof-of-stake rewards sets TRXS apart from a standard spot token ETF. Rather than distributing staking income separately, Canary Capital said those returns will be reflected directly in the fund's net asset value as they accrue.

Canary Capital CEO Steven McClurg pointed to Tron's role in the stablecoin market as a central reason for the fund. The Tron blockchain handles a large volume of stablecoin transfers, with users drawn to its low transaction costs and processing efficiency.