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Highlights
- The US SEC has officially recognized the staked Tron ETF application by Canary Capital.
- The commission delayed its decision on 21Shares' proposal to add staking services to its spot Ethereum ETF.
- The SEC's approval deadline for the TRX ETF is still uncertain.
In the latest crypto news, the US SEC has officially acknowledged Canary Capital’s staked Tron ETF filing. Notably, this development comes on the heels of recent delays in approving other exchange-traded funds, including the staked ETH ETF.
Staked Tron ETF Soon?
The US SEC released a notice on Thursday, officially acknowledging a 19b-4 filing for a Canary Capital staked Tron ETF, submitted via Cboe BZX Exchange. Sparking widespread optimism, the regulator said, “The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.”
As earlier reported by CoinGape, investment giant Canary Capital filed to launch its staked Tron ETF in April. This product aims to provide investors with a regulated pathway to tap into staking rewards and gain market exposure to a leading proof-of-stake digital asset. It is noteworthy that the asset manager has partnered with Bitgo as the fund’s custodian.
Amidst the SEC’s delay in multiple ETFs, Bloomberg analyst James Seyffart sees the TRX ETF acknowledgment as a positive development. In his recent X post, he wrote, “On the more positive side: SEC acknowledged Canary Fund’s staked TRX filing.”
As expected, more delays on crypto ETFs dropped today. Delays include @BitwiseInvest & @CoinSharesCo XRP ETFs. Delay on Litecoin ETF Filing. Delay on @Fidelity's In-kind Bitcoin filing.
On the more positive side: SEC acknowledged @CanaryFunds's staked TRX filing https://t.co/bqXHT5MAnS pic.twitter.com/LzrxfFZK2J
— James Seyffart (@JSeyff) May 22, 2025
A Staked Tron ETF is an exchange-traded fund designed to hold the TRX token while allowing the fund to earn staking rewards. The Cboe BZX Exchange’s proposal suggests that the TRX market’s size and structure, combined with surveillance measures, make it resistant to manipulation, similar to recently approved Bitcoin and Ethereum ETFs. The ETF would securely hold TRX in cold storage and utilize cash-only creation and redemption processes. Share blocks would be traded based on the fund’s net asset value.
Staked ETFs: TRX vs ETH
Last day, the SEC delayed its decision on 21Shares’ proposal to add staking services to its spot Ethereum ETF, extending the review period. Despite this delay, the TRX ETF move has reignited market optimism.
Though the SEC has formally recognized the staked Tron ETF, its approval still remains uncertain. As Canary Capital and Tron haven’t commented on the matter, there are no hints regarding its approval deadline.
Meanwhile, the staked ETH ETF was expected to get approved by May 2025. But, as hinted by Bloomberg analyst James Seyffart, the SEC may delay the approval until the end of 2025.
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