Canary Capital Introduces TRX ETF for Higher Returns Through Staking

Canary Capital, a prominent player in the cryptocurrency investment management space, has recently filed an application with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) called ‘Canary Staked TRX ETF.’ This new ETF aims to track the TRX coin from the Tron ecosystem while offering investors access to staking returns. The SEC filing details that BitGo Trust Company will handle custody services for the fund, aiming to enhance investor profitability by leveraging various assets on the Tron network. The strategy involves generating passive income through a portion of the TRX coin being utilized in staking mechanisms.