Canary Capital is launching the first US exchange-traded fund, ticker TRXS, that provides exposure to the Tron TRX token while generating staking rewards. The fund is scheduled to begin trading on the Cboe BZX Exchange on September 9.
The ETF will stake at least 90% of its TRX holdings under normal market conditions. Staking service fees are capped at 20% of rewards, with 80% of net income accruing directly to the fund's net asset value to increase the share price.
The sponsor fee for the fund is set at 1.10% annually, payable in cash or TRX. Custody of the assets is divided between US Bank, which manages cash, and BitGo Bank & Trust, which oversees the TRX holdings.
The fund structure was detailed in an S-1 amendment filed on August 19. Tron founder Justin Sun confirmed the listing details on September 8, noting the token was trading near $0.34 at the time.
