Canary Capital, a US asset manager, has filed to list an exchange-traded fund (ETF) holding Tron's TRX token. The regulatory filings reveal the fund's intention to hold spot TRX and stake a portion for added yield.
According to CoinMarketCap, TRX boasts a market capitalization exceeding $22 billion. Data from Stakingrewards.com indicates that staking TRX generates an annualized yield of approximately 4.5%.
This filing stands out as Canary's fund uniquely requests permission to stake its crypto holdings in its initial application. In March 2023, the SEC sued Tron's founder, Justin Sun, for allegedly inflating TRX prices.