Canary Capital is looking to launch an exchange of exchanged funds (ETF) that monitors Tron’s native token price, TRX, according to A File.
The hedge fund submitted a form S-1 for the Canary Staked TRX ETF with the Securities and Exchange Commission (SEC) on Friday. As the name suggests, the fund – if approved – will get parts of its holdings.
This will be done through third-party providers, with BitGo acting as guardians for property. The fund will monitor the price of the TRX area using CoinDesk’s indices calculations.
A suggested ticker as well as management fee for the product has not been distributed.
First filed applications for Spot Ethereum (ETH) ETF with staking feature but included but Removed They are in a amended filing later to receive approval from the SEC with their proposals.
While the SEC under former chairman Gary Gensler is staking firmly against staking, those who have grown more hopeful that they can add the feature to their place in the fund, among others, along with the Crypto-friendly chair appointment Paul Atkins.
A decision on a request in February from Grayscale to allow staking in Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF (ETH) is postponed By the regulator a few days ago.
