- Canary’s TRX ETF is scheduled to begin trading on Cboe BZX on September 9 under the ticker TRXS.
- The trust expects to retain 80% of staking rewards, incorporating those tokens into its daily net asset value.
- TRXS charges a 1.10% annual sponsor fee, separate from fees deducted from staking rewards.
Canary Capital’s staked TRX ETF is scheduled to debut on Cboe BZX on September 9 under the ticker TRXS. The product combines exposure to TRON’s native token with rewards from staking its holdings.
Investors can access the fund through brokerage accounts without managing wallets or staking infrastructure. The launch introduces a new investment structure, with separate charges applying to fund management and staking rewards.
TRX ETF combines token holdings with staking income
The fund’s primary objective is to track its TRX holdings after expenses and liabilities. Earning additional tokens through staking forms its secondary objective, according to registration documents.
Canary confirmed it expects to stake most of the trust’s holdings. Aggregate staking fees cannot exceed 20% of rewards, leaving the trust with 80% under the expected arrangement.
Those retained tokens enter the daily net asset value calculation rather than a separate cash distribution. Staking rewards therefore contribute to the TRX ETF’s value, while token prices and expenses also affect returns.
The annual sponsor fee stands at 1.10%, accruing daily and payable monthly in TRX or cash. This charge applies separately from deductions on staking income.
BitGo Bank & Trust serves as token custodian, while U.S. Bank handles cash. U.S. Bancorp Fund Services provides administration, accounting and transfer-agent services.
Stablecoin settlement supports the case for TRON access
Canary CEO Steven McClurg links the TRX ETF launch to demand for infrastructure supporting stablecoin payments and settlement. Justin Sun similarly describes the product as another institutional route into the network.
An August Messari report places second-quarter USDT transfers on TRON at $2.1 trillion. Average daily transfer volume reached $22.8 billion, increasing 4.3% from the previous quarter.
Stablecoin market capitalization on the blockchain totalled $89.2 billion during that period. USDT represented $87.9 billion, accounting for approximately 98.5% of the total.
The TRX ETF follows Canary products tracking assets including XRP, Litecoin and HBAR. Canary first submitted its registration statement in April 2025, with later amendments detailing custody, staking and operating terms.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
