The SEC has recognized the filing of a staked Tron ETF by Canary Capital, bringing attention to TRX.

Canary Capital submitted an application for a staked Tron (TRX) Exchange Traded Fund (ETF) in April, and nearly a month later, the US Securities and Exchange Commission (SEC) has confirmed receipt of this application. Meanwhile, TRX’s price is having difficulty moving beyond a narrow range to reach its all-time high. Our study indicates that this notice of receipt was posted on Thursday, May 22. The Context of the Situation. In April, Canary revealed that it submitted a Form S-1 registration statement to the SEC. The initial prospectus states that the fund aims to provide investors with shares that offer direct exposure to the price of Tron. As mentioned in our earlier news article, the Trust plans to stake a segment of its TRX to gain rewards tied to liquidity and the risk of penalties. Canary Capital is acting as the sponsor, and it has been reported that CSC Delaware Trust Company serves as the trustee, while Bitgo Trust Company functions as the custodian. Furthermore, the proposal specifies that individuals or organizations holding shares would not have the right to vote. Moreover, the trust will not act as collateral in any manner. Essentially, it will cover exceptional expenses, allowing the sponsor to concentrate on regular operational costs. In addition, Canary has submitted another staked ETF associated with the SEI token.