The United States Asset Manager Canary Capital has filed to list an exchange exchanged funding (ETF) holding a Tron Blockchain Network token, TRX (Trx), outgoing regulation regulation.
Fund aims to hold the TRX spot and to –stake a portion of the tokens for extra yield, the filing Says.
According to In CoinMarketCap, the TRX token has a total market capitalization of over $ 22 billion. Staking TRX generates an annual harvest of approximately 4.5%, data from StakingRewards.com Shut up.
File is the latest in an infusion of submissions aimed at listing ETFs holding alternative cryptocurrencies, or “Altcoins.”
However, the suggested Canary fund is relatively unique in seeking permission to promote crypto holders in its initial application. Other US ETFs, such as those who hold the native token of the Ethereum network, Ether (Eth), seek approval for staking only after successfully listing a funding of the place token. They are still waiting for a regulation decision.
Tron is a proof-of-stake blockchain network founded by Justin Sun, who also owns a rainberry (former bittorrent), developed a bittorrent protocol.
In March 2023, the SEC Sued Sun. For the unlucky to sit down the prices of the Tron token and BTT to token of BitTorrent.
In February, the SEC and Sun asked the judge who oversees the lawsuit at the I -Pause the case To allow the parties to enter the negotiations with the negotiation.
Related: Canary Capital recommends the first Sui ETF to US SEC Filing
Season of altcoin etf
Since US president Donald Trump was in charge of January, US regulators recognized twelve -two files for suggested crypto investment products.
They include plans for ETFs holding native layer-1 tokens such as Solana (Sol) as well as memecoins like the official Trump (Trump).
Since 2024, Canary has filed for many suggested US Crypto ETFs, including funds holding Litecoin (LTC), XRP (XRP) Hedera (Hbar), Axlar (AXL), Pengu (Pengu), and Sui (Sui).
Some industry analysts are skeptical that ETFs holding non-core cryptocurrencies will be embraced by traditional investors.
“Most Crypto ETFs will fail to attract the money and expense of those who gave the money,” crypto researcher Alex Krüger Says In a March post on the X platform.
Magazine: SEC U-Turn to Crypto leaves key questions that are not answered
