Canary Capital has submitted amendment no. 4 to its S-1 registration statement with the United States Securities and Exchange Commission (SEC) for the proposed Canary Staked TRX ETF. The issuer plans to list and trade shares on the Cboe BXZ Exchange under the ticker symbol TRXS, providing investors with exposure to TRX price movements while generating staking rewards through the TRON network's proof-of-stake process.
The updated filing reveals a management fee of 1.10%. The fund is designed to cover ordinary operating expenses up to $200,000 per fiscal year, though no fee waiver has been disclosed. Under normal conditions, the ETF expects to stake 90% of its TRX holdings. Staking rewards will be shared between the staking provider, sponsor, and custodian, with total staking fees capped at 20% of the generated rewards, leaving the Trust to retain the remaining 80%.
Additionally, the documentation outlines details regarding the seed capital investment required to launch the product. Canary Capital Group intends to purchase 10,000 shares at a price of $25 per share.
In connection with the filing and broader market activity, TRON's native token experienced a price increase over a 24-hour period, accompanied by rising trading volume and increased derivatives market open interest across major exchanges including Binance, Hyperliquid, and KuCoin.
