Canary Capital Files for TRX Staking ETF
Key Takeaways
Canary Capital has filed an application with the U.S. Securities and Exchange Commission (SEC) for a new ETF (Exchange Traded Fund). This ETF is intended to be based on staked TRX, the native token of the TRON blockchain. Despite this move, market sentiment toward TRON remains negative. The price is weak, and trading volume is declining. Investors currently seem to lack confidence in a short-term recovery.
What is the Canary Staked TRX ETF?
The proposed ETF from Canary Capital is designed to directly hold TRX tokens and stake them on the network. Staking involves locking up cryptocurrencies within a network to validate transactions. In return, participants receive rewards. The ETF would allow institutional and retail investors to gain regulated access to these staking yields—without having to hold or stake TRX themselves.
Why is an ETF for TRON relevant?
An approved ETF can significantly boost demand for a cryptocurrency. Institutional investors, in particular, prefer regulated products. A TRX ETF could therefore lead to increased capital inflows and broader acceptance. Similar developments in the past with Bitcoin and Ethereum have triggered positive price reactions.
Market Situation: TRON Struggling with Downtrend
Currently, TRON (TRX) appears weak. The price stands at around USD 0.24—a decline of 1.28% over the past day and 2.8% on a weekly basis. Futures market trading volume has dropped to a weekly low of just USD 6,500. This suggests low interest and little confidence in a short-term rebound.
Funding Rate Indicates Bearish Sentiment
The so-called funding rate—an indicator of market sentiment in the futures market—is in negative territory. This means more traders are betting on falling prices. This trend reinforces the downward momentum and shows that there are currently few bullish signals.
Additional ETF Filings by Canary
Canary Capital has filed not only for a TRX ETF. Other altcoins such as Litecoin (LTC), XRP, Hedera (HBAR), Sui (SUI), and even the NFT project Pudgy Penguins (PENGU) are also on the list. This indicates that the company is betting on a more crypto-friendly stance from U.S. regulators.
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What Does This Mean for You as an Investor?
An ETF could have long-term positive effects on the price of TRX—mainly through increased institutional interest. In the short term, however, sentiment remains negative. Those looking to invest in TRX should closely monitor the progress of the ETF application and the overall market environment. A recovery to USD 0.259 is possible if sentiment improves. Otherwise, a drop to USD 0.23 is likely.
Our Assessment
The application for the Canary Staked TRX ETF is a strategically important step for TRON. It demonstrates institutional interest in staked altcoins. However, market skepticism currently prevails. Weak demand, negative funding rates, and low futures activity argue against a short-term recovery. If the ETF is approved and initial capital inflows become visible, the outlook could change. Until then, caution is advised.
| Symbol | TRX |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $0.24 |
| 24h % | -0.43 % |
| 7d % | -1.24 % |
| 30d % | 5.71 % |
| 60d % | -1.29 % |
| 1y % | 111.70 % |
| Market Cap | $23,058,927,241.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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