Canary Staked TRX ETF Discloses Fees, Staking & Details Ahead of Launch

Canary Capital has updated its S-1 form for Staked TRX ETF with the US SEC, revealing fees and other key details ahead of potential launch in coming weeks. TRX, the native token of Justin Sun’s TRON, has spiked nearly 2% over the past 24 hours.

Canary Staked TRX ETF Amends Filing with the US SEC

Canary Capital has filed amendment no 4 to its S-1 registration statement for its Staked TRX ETF, according to the latest US SEC filing. The issuer aims to list and trade shares on Cboe BXZ Exchange under the ticker TRXS.

The filing advances the proposed spot ETF that would offer investors exposure to TRX price. It will also generate staking rewards by participating in the TRON network’s proof-of-stake process.

The most notable change from the previous amendment is the disclosure of a 1.10% management fee. The Canary Staked TRX ETF is to cover ordinary operating expenses up to $200,000 per fiscal year. However, the issuer has not disclosed any fee waiver.

Canary Staked TRX ETF expects to stake 90% of TRX under normal conditions, with staking rewards shared among staking provider, sponsor, and custodian. The total staking fees will not exceed 20% of the TRX staking rewards.

“As of the date of this prospectus, the aggregate Staking Fees are expected to be 20% of the TRX staking rewards, resulting in the Trust retaining 80% of the TRX staking rewards generated by the Staking Program,” it states.

The filing also revealed details of seed capital investor and seed investment to launch the Canary Staked TRX ETF. Canary Capital Group plans to purchase 10,000 shares at $25 per share.

TRON Price Jumps Ahead of Major Upgrade

TRON price surged almost 2% in the past 24 hours, currently trading at $0.337. The 24-hour low and high are $0.3315 and $0.3374, respectively. Moreover, trading volume has increased by 75% over the last 24 hours amid broader crypto market recovery.

In the daily timeframe, the price is trading strongly above the 50-SMA and 200-SMA. Analysts predict potential updside amid major TVM compatibility upgrade. The upgrade would improve TVM compatibility, security, execution consistency, and support for newer Ethereum opcodes and precompiled contracts.

Derivatives markets showed massive buying sentiment, as per Coinglass data. At the time of writing, the total TRX futures open interest jumped more than 5% to $256.12 million in the last 4 hours.

TRON futures OI on Binance rocketed more than 9% amid Canary Staked TRX ETF amendment, while it climbed almost 2.50% on Hyperliquid and 8% on KuCoin.

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