Canary Capital, a well-known name in the crypto ETF space, has filed a new application with the U.S. Securities and Exchange Commission (SEC) for a staked Tron (TRX) ETF. This move signals the firm’s growing interest in altcoin-based investment products and puts Tron in the spotlight for mainstream exposure.
What We Know About the Staked TRX ETF
The newly proposed fund is named the Canary Staked TRX ETF. While the specific trading platform for this ETF hasn’t been announced yet, the company confirmed it will offer investors exposure to Tron’s price.
The ETF is designed to give investors regulated access to staking rewards and market exposure to one of the leading proof-of-stake digital assets in the crypto space.
Currently Tron price trading at $0.2410 as per Coinpedia Market data.
Following Recent Momentum in ETF Filings
This is not Canary Capital’s first venture into altcoin ETFs. Just a month ago, the firm filed for a Pengu ETF, and now it has expanded its reach further.
The company has also submitted filings for other altcoin ETFs, including:
SUI
Hedera (HBAR)
Polkadot (DOT)
This brings its total to six altcoin ETF filings, reflecting a broader trend in the market.
Altcoin ETF Race Heats Up
Canary Capital isn’t alone in this race. Other major players like Grayscale, 21Shares, Franklin Templeton, and VanEck have also joined the push, filing for ETFs based on:
Solana (SOL)
XRP
Cardano (ADA)
Dogecoin (DOGE)
Litecoin (LTC)
This growing interest follows a shift in the regulatory environment. Recent political changes in Washington have brought a more crypto-friendly tone to the SEC, particularly in how it views Proof-of-Work assets like Bitcoin, which are now being classified as commodities.
Earlier this year, Bloomberg analysts suggested there’s a 90% chance of a Litecoin ETF being approved by 2025, citing its structural similarity to Bitcoin. Currently Litecoin Price trading at $75.44.
What Lies Ahead for Crypto ETFs?
Although the SEC has delayed decisions on many altcoin ETF proposals, the outlook remains positive.
The recent appointment of Paul Atkins as SEC Chair has also raised hopes. Alongside pro-crypto commissioners Mark Uyeda and Hester Peirce, Atkins is expected to support the approval of more crypto ETFs.
If these expectations hold, we could see multiple altcoin ETFs approved by mid-2025—a milestone that could reshape the crypto investment landscape in the U.S.
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