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Canary Capital has submitted a proposal to the United States Securities and Exchange Commission (SEC) to launch the first-ever staked TRX ETF in the US market. The proposed ETF aims to offer investors a unique opportunity to gain exposure to the price of the TRON (TRX) token while earning passive income from staking.
The ETF plans to utilize third-party providers for staking, ensuring that users can capitalize on the returns without having to actively manage their own TRX holdings. Moreover, Canary Capital has chosen BitGo Trust Company as its custodian, providing an additional layer of security and compliance with regulatory requirements.
This innovative product is poised to revolutionize the way investors engage with cryptocurrencies like TRON (TRX). Traditionally, investors have had limited options when it comes to directly investing in cryptocurrency markets while still benefiting from staking. This ETF aims to bridge that gap, offering a seamless investment experience for those seeking exposure to the market.
TRON’s impressive growth and progress are also worth noting. The network now supports over 300 million accounts, highlighting its increasing adoption rate. Furthermore, TRON has introduced its Gas Free feature, which enables users to make transactions using USDT without requiring any additional gas fees.
The announcement of Canary Capital’s ETF proposal is a significant development in the cryptocurrency space, particularly for those seeking alternative investment opportunities.
Source: https://www.crypto-news-flash.com/canary-capital-moves-to-launch-first-staked-trx-etf-in-the-us/?utm_source=rss&utm_medium=rss&utm_campaign=canary-capital-moves-to-launch-first-staked-trx-etf-in-the-us
