Canary Capital has filed an S-1 prospectus with the U.S. Securities and Exchange Commission (SEC) for a spot ETF focused on Tron (TRX), which includes staking capabilities aimed at allowing investors to earn additional yield. The fund is intended to provide exposure to the price of Tron. This initiative comes amid a wave of ETF applications for various cryptocurrencies, including XRP and Solana, following the successful launch of funds tracking Bitcoin. Canary Capital is based in Nashville, Tennessee, and is pushing for approval of several crypto ETFs as the market for altcoin tracking funds increases. However, the SEC has yet to approve any ETF with staking features, which has raised concerns among regulators. The cryptocurrency market, particularly Tron, which is the ninth-largest with a market cap of about $23 billion, has experienced significant price movements, with TRX recently trading around $0.24. The approval for ETFs tied to these assets could signify a turning point for institutional investment in cryptocurrencies.

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