Canary Capital launched the first staked TRON ETF in the US on September 9, trading on Cboe BZX under the ticker TRXS. The fund plans to stake most of its TRX holdings while charging a 1.10% management fee, and TRX price rose ahead of the debut.
The Canary Staked TRX ETF began trading in the United States on Wednesday, September 9, under the ticker TRXS, listed on Cboe BZX Exchange. The product is the first US-regulated fund to pair spot TRX exposure with on-chain staking rewards.
Its net asset value is calculated using the CoinDesk Tron Benchmark Rate 60m NY Rate, while shares trade separately under the TRXS ticker. Analysts say the launch matters more for access than for an immediate price move, since the ETF lets brokerage-account holders take part in TRON staking without managing wallets or lock-up periods.
Fund structure and fees
Canary's prospectus discloses a 1.10% management fee, covering ordinary operating expenses up to $200,000 per fiscal year, with no fee waiver disclosed. Under normal conditions, the fund expects to stake at least 90% of its TRX holdings to generate additional TRX through the network's proof-of-stake process.
Staking fees will not exceed 20% of the TRX staking rewards, meaning the trust retains the remaining 80%. Canary Capital Group also plans to purchase 10,000 seed shares at $25 per share ahead of trading.
TRX price and derivatives react
TRON's price climbed almost 1.50% over the past 24 hours to trade around $0.339 ahead of the launch. Justin Sun said, "After shouting for so many years about institutions entering the market, they've finally arrived!"
Derivatives markets showed mixed signals. Total TRX futures open interest rose more than 0.50% to $263.39 million over four hours. Open interest on Binance jumped more than 2.50% ahead of the ETF debut. It also climbed on OKX and Bybit, but dropped almost 2% on Hyperliquid over the past 24 hours.
Sources: CoinGape, Crypto Daily
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