American investment company, Canary Capital, has formally requested to launch an Exchange-Traded Fund (ETF) backed by TRON (TRX). The ETF is designed to hold TRON tokens in spot and stake a portion of it for higher profits. Staking TRON tokens yields approximately 4.5% annually, as per StakingRewards data. The market value of TRON currently exceeds $22 billion, making it one of the major altcoins in the market. Canary Capital’s request is unique as they have also sought permission for staking in the initial application, unlike other cryptocurrency ETFs in the U.S. which initially only requested spot holding and later applied for staking permission. This approach could pave the way for new structures in cryptocurrency ETFs, although the final decision by U.S. regulatory authorities on this request is yet to be announced. It’s worth noting that since Donald Trump’s presidency, there has been a wave of requests for cryptocurrency ETFs. Canary Capital has been active in launching ETFs backed by Litecoin (LTC), Ripple (XRP), Hedera (HBAR), Axlar (AXL), Pengu (PENGU), and Sway (SUI) since 2024. Some analysts believe that most of these altcoin ETFs may not attract traditional investors’ attention. You can track the live prices of all tokens and cryptocurrencies on the real-time digital currency price page.
