Canary Funds is bringing staked TRX ETF to the United States

Canary Capital Group is preparing to launch the Canary Staked TRX ETF, ticker $TRXS, on the Cboe exchange on September 9, marking the first regulated product to give U.S. investors exposure to staked @Trondao's $TRX token.

A First for Regulated TRX Access in the U.S.

The fund combines two objectives in a single, exchange-listed wrapper. Its primary goal is to provide exposure to the price of TRX held by the trust, less operating expenses and other liabilities. A secondary objective is for the trust to earn additional TRX through participation in a staking program administered by the sponsor, with rewards generated through the validation of transactions on the Tron network's proof-of-stake process. In practical terms, that means investors can access both $TRX spot price moves and staking yield through an ordinary brokerage account, without needing to hold or stake tokens directly.

The fund's net asset value will be pegged to an institutional benchmark. The trust will establish its NAV by reference to the CoinDesk Tron Benchmark Rate 60m NY Rate. On the custody side, BitGo will provide custody services for TRX tokens, while U.S. Bank will safeguard the ETF's cash assets. An annual sponsor fee of 1.10% will apply, payable in TRX or cash, with staking fees of up to 20% of rewards also charged.

Regulatory Path and Timeline

The road to listing has been a long one. Canary originally submitted the fund's Form S-1 back in April 2025, with subsequent amendments adding the TRXS ticker, the Cboe listing plan, service providers, staking terms, and finalized fee details. The most recent amendment to the registration statement was filed on August 19, 2026. Trading is set to open on September 9 following the SEC prospectus becoming effective.

The structure is organized as a Delaware statutory trust. The trust was formed under the laws of Delaware, with Canary Capital Group LLC serving as sponsor. The fund will issue and redeem baskets of 10,000 shares, using either cash or TRX depending on circumstances.

For the broader Tron ecosystem, the listing carries some weight. Tron has overtaken Ethereum as the leading network for USDT stablecoin, with its USDT supply reaching $94.27 billion. A regulated, staked ETF wrapper could attract institutional capital that has so far remained on the sidelines of the $TRX market.

Sources:
Canary Staked TRX ETF SEC filings, U.S. Securities and Exchange Commission
Staked TRX ETF by Canary Capital Highlights Yield Potential, The Cryptonomist