Justin Sun Confirms TRX ETF Application

Anna Martynova

Justin Sun, the founder of Tron (TRX), confirmed the rumors of a TRX ETF by sharing the event with his 3.8 million followers on social media platform X. The Securities and Exchange Commission (SEC) has received a huge number of applications for ETFs for XRP, Solana, and even Dogecoin. When rumors of a spot Tron ETF leaked, some doubted the authenticity of the information.

Now Justin Sun has confirmed it by attaching a link to Canary Capital’s Form S-1 filed with the regulator. This development makes Canary Capital the first asset manager to file for a Tron ETF. The goal is to provide investors with the spot price of TRX and staking rewards with an annualized yield of 4.5%. The staking feature will allow investors in the Tron ETF to earn additional returns on their investments.

The SEC has not granted a staking feature to any crypto ETF. The regulator has not ruled on a proposed change by Grayscale’s spot fund for Ethereum staking. Meanwhile, according to Canary’s filing, the registration statement did not mention the exchange on which it hopes to trade the proposed fund.

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