Canary Capital Requests SEC Nod for Tron ETF With Staking Capabilities
- Canary Capital files for a Tron ETF with staking, awaiting SEC approval amid regulatory uncertainty.
- Crypto ETF market expands as optimism grows for staking approval under new SEC leadership.
Canary Capital has requested from the US Securities and Exchange Commission (SEC) approval to create a Tron-based exchange-traded fund (ETF) that supports staking functions. The Nashville-based asset manager firm, Canary Capital, presented its “Canary Staked TRX ETF” prospectus to the SEC through an S-1 filing on Friday to track Tron’s native token TRX spot prices.
Staking Feature Faces Regulatory Uncertainty
The proposed ETF would distribute stakeable assets to third-party providers using BitGo as its custodial service. The staking component enters the market at a time when regulatory uncertainty persists. Recently, the SEC delayed its decision regarding Grayscale’s February request for Ethereum ETF products that incorporated staking features.
Staking is the method of pledging digital assets to help secure a network in exchange for rewards. It could provide investors with additional yield, but it remains a contentious issue in the regulatory landscape. Previous Ethereum ETF applications initially included staking features removed by issuers due to gain SEC approval.
Industry observers have noted increased optimism about staking approval possibilities following the appointment of crypto-friendly Chair Paul Atkins to replace former Chair Gary Gensler, who had opposed the feature.
The firm has not yet disclosed the proposed ticker symbol or any administration fee for the product. This filing joins a growing wave of crypto ETF applications targeting various digital assets, including XRP, Solana, Dogecoin, and Sui.
Industry analysts suggest XRP and Solana ETFs may be next in line for potential SEC approval, following the successful launches of Bitcoin ETF’s that have attracted over $35 billion in net inflows during the past 15 months.
Highlighted Crypto News Today:
Read More
Paul Atkins Sworn in as 34th SEC Chair, Signals Crypto Market Reforms
Canary Capital Requests SEC Nod for Tron ETF With Staking Capabilities
- Canary Capital files for a Tron ETF with staking, awaiting SEC approval amid regulatory uncertainty.
- Crypto ETF market expands as optimism grows for staking approval under new SEC leadership.
Canary Capital has requested from the US Securities and Exchange Commission (SEC) approval to create a Tron-based exchange-traded fund (ETF) that supports staking functions. The Nashville-based asset manager firm, Canary Capital, presented its “Canary Staked TRX ETF” prospectus to the SEC through an S-1 filing on Friday to track Tron’s native token TRX spot prices.
Staking Feature Faces Regulatory Uncertainty
The proposed ETF would distribute stakeable assets to third-party providers using BitGo as its custodial service. The staking component enters the market at a time when regulatory uncertainty persists. Recently, the SEC delayed its decision regarding Grayscale’s February request for Ethereum ETF products that incorporated staking features.
Staking is the method of pledging digital assets to help secure a network in exchange for rewards. It could provide investors with additional yield, but it remains a contentious issue in the regulatory landscape. Previous Ethereum ETF applications initially included staking features removed by issuers due to gain SEC approval.
Industry observers have noted increased optimism about staking approval possibilities following the appointment of crypto-friendly Chair Paul Atkins to replace former Chair Gary Gensler, who had opposed the feature.
The firm has not yet disclosed the proposed ticker symbol or any administration fee for the product. This filing joins a growing wave of crypto ETF applications targeting various digital assets, including XRP, Solana, Dogecoin, and Sui.
Industry analysts suggest XRP and Solana ETFs may be next in line for potential SEC approval, following the successful launches of Bitcoin ETF’s that have attracted over $35 billion in net inflows during the past 15 months.
Highlighted Crypto News Today:
Read More