- Canary Capital has launched TRXS, the first staked TRX ETF in the US.
- The fund gives investors TRX exposure while earning staking rewards.
Canary Capital has launched the first staked TRX exchange-traded fund (ETF) in the United States, giving investors exposure to TRON through traditional brokerage accounts.
The Canary Staked TRX ETF, trading under the ticker TRXS, also allows the fund to earn staking rewards from its TRX holdings. The launch gives investors a way to gain TRX exposure without directly buying the token or managing the staking process themselves.
TRXS Brings Staking Rewards to TRX ETF
TRXS is designed to track the value of its TRX holdings while also generating additional returns through staking.
Canary Capital expects to stake substantially all of the TRX held by the fund. The trust will retain 80% of the staking rewards after fees, with staking fees capped at 20% of rewards generated.
The retained rewards will be included in the fund’s daily net asset value. This means investors can benefit from staking income through the value of their ETF holdings rather than receiving separate reward payments.
The fund carries an annual sponsor fee of 1.10% of its TRX holdings. The fee accrues daily and can be paid monthly in TRX or cash.
TRXS is listed on Cboe. BitGo Bank & Trust serves as the TRX custodian, while U.S. Bank handles the fund’s cash.
TRON’s Growing USDT Activity Supports TRXS Launch
The ETF arrives as TRON continues to handle large amounts of stablecoin activity.
TRON processed $2.1 trillion in USDT transfers during the second quarter of 2026, according to Messari data cited in the source report. The network’s stablecoin market capitalization reached $89.2 billion during the quarter.
USDT represented $87.9 billion of that total, accounting for 98.5% of TRON’s stablecoin market. Average daily USDT transfer volume also rose 4.3% from the previous quarter to $22.8 billion.
TRON later surpassed 15 billion total transactions, highlighting the network’s growing activity. Daily transactions had also exceeded 12.5 million by early August.
Canary Capital CEO Steven McClurg pointed to this stablecoin activity as a key reason for the fund’s launch. He said TRON has become an important part of the infrastructure supporting digital asset payments and settlement.
Canary Expands Its Crypto ETF Portfolio
TRXS adds to Canary Capital’s growing range of crypto ETFs, which already includes products linked to XRP, Litecoin and HBAR, alongside filings for other crypto assets.
The inclusion of staking also sets TRXS apart from some proposed altcoin ETFs. Recent filings for proposed BNB ETFs from VanEck and Grayscale did not include staking in their initial structures.
TRX has attracted interest from other asset managers as well. Bitwise previously filed for a TRX ETF, although its proposed structure differs from Canary’s approach.
With TRXS, Canary Capital is offering direct TRX exposure alongside staking rewards through a regulated exchange-traded product. The launch gives US investors another route into TRON as institutional access to the network continues to expand.
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