SEC Acknowledges Canary Capital’s Staked Tron ETF Filing — TRX in Spotlight
The post SEC Acknowledges Canary Capital’s Staked Tron ETF Filing — TRX in Spotlight appeared on BitcoinEthereumNews.com. A staked Tron (TRX) Exchange Traded Fund (ETF) application was filed by Canary Capital in April; almost a month later, the US Securities and Exchange Commission (SEC) has acknowledged the filing. The price of TRX is, however, struggling to break out of a tight range to target its all-time high price. The US Securities and Exchange Commission (SEC) has acknowledged receipt of a staked Tron Exchange Traded Fund (ETF) application filed by Canary Capital. According to our research, this notice of receipt was uploaded on Thursday, May 22. The Background of the Story In April, Canary announced that it had filed a Form S-1 registration statement with the SEC. According to the preliminary prospectus, the fund is designed to ensure that shares are issued for investors to have a direct exposure to the price of Tron. As explained in our previous news story, the Trust would stake a portion of its TRX to earn rewards based on associated liquidity and penalty risk. With Canary Capital being the sponsor, CSC Delaware Trust Company is reported to be a trustee with Bitgo Trust Company named as the custodian. Also, the proposal clarifies that individuals or entities who would have ownership of shares would not be entitled to voting rights. Additionally, the trust would in no way serve as collateral. Basically, the trust will take charge of extraordinary costs while the sponsor focuses on ordinary operating expenses. Meanwhile, Canary has also filed another staked ETF linked to the SEI token. As detailed in our previous news, this is to provide passive profit for staking while tracking the market price for SEI. Canary has also filed several spot ETFs to track the price of the likes of SUI, LTC, PENGU, HBAR, XRP, AXL, DOGE and SOL. Updates on Already Filed ETF Applications, TRX Still…
The post SEC Acknowledges Canary Capital’s Staked Tron ETF Filing — TRX in Spotlight appeared on BitcoinEthereumNews.com.
A staked Tron (TRX) Exchange Traded Fund (ETF) application was filed by Canary Capital in April; almost a month later, the US Securities and Exchange Commission (SEC) has acknowledged the filing. The price of TRX is, however, struggling to break out of a tight range to target its all-time high price. The US Securities and Exchange Commission (SEC) has acknowledged receipt of a staked Tron Exchange Traded Fund (ETF) application filed by Canary Capital. According to our research, this notice of receipt was uploaded on Thursday, May 22. The Background of the Story In April, Canary announced that it had filed a Form S-1 registration statement with the SEC. According to the preliminary prospectus, the fund is designed to ensure that shares are issued for investors to have a direct exposure to the price of Tron. As explained in our previous news story, the Trust would stake a portion of its TRX to earn rewards based on associated liquidity and penalty risk. With Canary Capital being the sponsor, CSC Delaware Trust Company is reported to be a trustee with Bitgo Trust Company named as the custodian. Also, the proposal clarifies that individuals or entities who would have ownership of shares would not be entitled to voting rights. Additionally, the trust would in no way serve as collateral. Basically, the trust will take charge of extraordinary costs while the sponsor focuses on ordinary operating expenses. Meanwhile, Canary has also filed another staked ETF linked to the SEI token. As detailed in our previous news, this is to provide passive profit for staking while tracking the market price for SEI. Canary has also filed several spot ETFs to track the price of the likes of SUI, LTC, PENGU, HBAR, XRP, AXL, DOGE and SOL. Updates on Already Filed ETF Applications, TRX Still…
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