SEC Takes First Step Toward Potential Staked Tron ETF

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The SEC has acknowledged Canary Capital’s filing for a staked Tron (TRX) ETF, marking an early milestone in the fund’s approval process. While the regulator deferred decisions on other crypto ETFs, it opened the door for public feedback on the TRX proposal.

The filing, submitted via Cboe BZX Exchange, seeks to create an ETF that stakes TRX to generate rewards. Canary Capital partnered with BitGo for custody and has similar ETF plans for Sui, Hedera, and Litecoin.

TRX—the cornerstone of Justin Sun’s Tron blockchain—boasts a $26 billion market cap, placing it among crypto’s top 10 assets. The SEC’s request for comments suggests a cautious but active review of staked crypto ETFs.