Brentwood, TN — Canary Capital Group LLC has announced the official launch of the Canary Staked TRX ETF, trading under the ticker TRXS. The newly introduced exchange-traded product seeks to provide investors with exposure to the spot price of TRX, the native utility token of the TRON blockchain network.
In addition to tracking the spot price, the fund aims to earn additional TRX through the TRON network's delegated proof-of-stake validation process. Net staking rewards generated through this process will be reflected in the fund's net asset value.
Steven McClurg, CEO of Canary Capital, noted that the fund offers exposure to a major blockchain settlement network via a registered exchange-traded structure while allowing participants to benefit from potential staking rewards. McClurg emphasized that as stablecoin adoption grows globally, TRON has emerged as critical infrastructure for digital asset payments and settlement.
TRON currently supports more than $94 billion in circulating Tether and processes substantial transfer volumes. Justin Sun, founder of TRON, stated that the launch demonstrates the growing recognition of the network's role in powering real-world financial activity at scale.
The fund is an exchange-traded product that is not registered under the Investment Company Act of 1940. Canary Capital noted that investing in digital assets involves a high degree of risk and heightened volatility, and staked assets carry specific risks such as potential slashing penalties and the absence of FDIC or SIPC protections.
