The Canary Staked TRX ETF launched in the United States on Wednesday, September 9, under the ticker TRXS, according to The Block. The launch brings a US-listed fund built around exposure to TRX and a strategy of staking the bulk of its holdings on the Tron network.
TRXS begins US trading on Cboe BZX
TRXS shares are intended to trade on Cboe BZX under the TRXS symbol, according to the fund’s prospectus filed with the US Securities and Exchange Commission.
The net asset value of the fund is based on the CoinDesk Tron Benchmark Rate 60m NY Rate. That benchmark establishes the reference used for calculating the fund’s NAV, while the ETF’s shares are listed separately under the TRXS ticker.
The product’s arrival gives US market participants a listed vehicle tied to TRX, the native token of the Tron network. Its stated structure, however, goes beyond holding the token for price exposure alone.
Canary plans to stake at least 90% of TRX holdings
Canary’s prospectus says the ETF is designed to provide exposure to TRX while earning additional TRX through staking on the Tron network. Under normal circumstances, the fund expects to stake at least 90% of its holdings.
That allocation is central to the structure described in the filing: the fund is intended to combine TRX holdings with the network’s staking economics. The prospectus frames the 90% figure as an expectation in normal conditions, rather than an unconditional commitment that every token held by the fund will always be staked.
The distinction matters for TRXS because its stated objective includes both token exposure and additional TRX generated through staking. Investors assessing the fund will therefore need to consider the disclosed staking approach alongside the benchmark used to calculate its NAV.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
