Canary Capital moves its staked TRX ETF toward launch with a fee disclosure

@CanaryFunds has filed a fourth amendment to its S-1 registration statement for the Canary Staked TRX ETF, bringing the proposed product a step closer to launch. The filing, submitted on August 19, discloses a 1.10% management fee. Shares would trade under the ticker $TRXS on Cboe BZX Exchange.

How the fund would work

The fund expects to stake 90% of its $TRX holdings under normal conditions, with total staking fees capped at no more than 20% of TRX staking rewards. That structure means the trust would retain 80% of the TRX staking rewards generated by the staking program. Ordinary operating expenses are to be covered up to $200,000 per fiscal year. The filing also revealed seed capital details: Canary Capital Group plans to purchase 10,000 shares at $25 per share to seed the fund.

The proposed fund would use third-party providers for staking and BitGo as custodian, with pricing data from CoinDesk Indices. Canary began collecting launch-update signups from prospective investors ahead of the amendment's release.

Regulatory backdrop

The original S-1 was submitted with the Securities and Exchange Commission back in April 2025. The ETF has not been approved; the required 19b-4 rule change process remains a separate hurdle. The fourth amendment is a meaningful procedural step, moving the filing from a placeholder registration toward a more fully formed product disclosure, but SEC sign-off remains the determining factor for launch.

Canary Capital has also filed for other altcoin-based ETFs, including those for Sui, Hedera, and Litecoin, reflecting a broader push by the Nashville-based firm to expand its crypto product lineup beyond Bitcoin and Ethereum.

Sources
NewsBTC: Canary Files Fourth Staked TRX ETF Amendment With 1.10% Fee
CoinGape: Canary Staked TRX ETF Discloses Fees, Staking and Details Ahead of Launch
CoinDesk: Canary Capital Files for Tron ETF With Staking Capabilities