Canary Capital Files for Staked Tron ETF in Latest Crypto Investment Move
American asset manager Canary Capital has filed a new application for a staked Tron (TRX) exchange-traded fund (ETF), marking its latest attempt to expand its presence in digital asset offerings. The filing was disclosed in a prospectus released this week, though the firm did not specify when or where the product would be listed. The proposed product, named the Canary Staked TRX ETF, aims to offer investors price exposure to Tron, a blockchain-based cryptocurrency known for its support of decentralized applications and smart contracts. The ETF will also incorporate a staking component, a mechanism that allows crypto holders to earn rewards by participating in transaction validation on the network. Staking-Based Structure and Pricing Framework According to the prospectus, the ETF’s net asset value (NAV) will be determined using pricing data provided by Coindesk Indices, a digital asset market index provider. This move aligns with the industry’s broader reliance on third-party data to improve pricing transparency and reliability in ETF products. Canary Capital said the ETF will be backed by actual holdings of TRX, which will be staked to generate rewards. However, details regarding the frequency of staking rewards distribution or the entity managing the staking operations were not included in the filing. The firm also withheld information about the specific exchange where the ETF would be listed. Ongoing Push Into Crypto-Focused Funds The filing comes just weeks after Canary Capital submitted a separate application for a Pengu ETF, another crypto-based fund currently under review by the U.S. Securities and Exchange Commission (SEC). Together, the two filings highlight the firm’s ongoing efforts to diversify its portfolio with blockchain-based investment products amid growing demand from retail and institutional investors. Despite regulatory uncertainty surrounding cryptocurrency ETFs in the U.S., firms like Canary Capital continue to test the waters with new filings. The SEC has yet to approve any staked crypto ETFs, and analysts suggest that these products could face heightened scrutiny due to the complexities of staking and its regulatory treatment. As of now, no official timeline has been given for the launch of the Canary Staked TRX ETF. The firm has not responded to requests for further comment on the filing or its broader digital asset strategy.
Canary Capital Files for SUI ETF with U.S. SEC
Canary Capital has filed for a spot exchange-traded fund (ETF) tracking Sui (SUI) with the U.S. Securities and Exchange Commission (SEC), marking the first such application for the cryptocurrency. The asset manager submitted its S-1 registration form to the SEC, as revealed by Bloomberg analyst Eric Balchunas in an X post. The filing follows Canary Capital’s recent move to incorporate the fund in Delaware, signaling an effort to bring institutional investment into SUI. Canary Capital Expands Crypto ETF Offerings The filing for a Sui ETF comes amid a broader push by Canary Capital to introduce investment products for digital assets. The firm has also sought regulatory approval for ETFs tied to XRP, Hedera, and Solana. Additionally, just last week, it filed for an ETF tracking Axelar’s AXL token. By launching these funds, Canary Capital aims to provide institutional investors with exposure to emerging blockchain networks. The Sui ETF, if approved, would allow traditional finance participants to invest in SUI without holding the asset directly. Sui Foundation and Industry Reactions The Sui development team welcomed the ETF filing, calling it a significant step in expanding the token’s accessibility. According to the team, Sui has already demonstrated strong adoption, with over $70 billion in decentralized exchange (DEX) trading volume and 67 million unique accounts. The Sui Foundation echoed this sentiment, stating that Canary’s application underscores growing confidence from traditional finance (TradFi) players. The foundation cited firms such as Grayscale, Franklin Templeton, VanEck, and Ant Financial, which have recently introduced investment products on the Sui network. If approved, the Sui ETF could further validate the asset’s standing in the broader financial ecosystem, following the increasing institutional interest in digital assets. However, the SEC has yet to make a decision, and the approval process could take months.
