Canary Capital Launches First U.S. Staked TRX ETF, Ticker TRXS
- The Canary Staked TRX ETF began trading on Cboe BZX on Sept. 9, with an initial net asset value (NAV) of $25 per share.
- The fund launched with $50.25 million in net assets and holds approximately 148.4 million TRX.
- TRXS charges a sponsor fee of 1.1% annually and aims to stake at least 90% of its TRX holdings.
- Staking rewards are reflected in the fund’s NAV instead of being distributed to shareholders.
- BitGo is the digital-asset custodian, while Luganodes operates as the validator for the fund.
This launch marks the first U.S. exchange-traded product that combines direct exposure to TRX with staking yield, reflecting growing interest in blockchain networks supporting real-world crypto use cases.
At launch, TRXS held about $50.25 million in assets and was designed to provide investors with a unique way to gain exposure to TRX through traditional brokerage accounts without managing private keys or validators.(Source)
