Altcoin Network-Linked Fund to Launch in the US for the First Time: Network Rewards to Be Reflected in Fund Value

The first Tron-linked ETF that will reflect network rewards in the fund’s value is preparing to trade on U.S. markets on September 9 under the ticker TRXS.

The Canary Staked TRX ETF, offered by Canary Capital, will provide investors with access to Tron’s native token, TRX, through traditional market channels.

According to data from The Block, TRX has a market capitalization of $32.1 billion, and the token ranks as the eighth-largest crypto asset by market value.

Tron is used in stablecoin transfers

The Tron network is widely used in stablecoin transfers due to its low cost and efficiency. Steven McClurg, CEO of Canary Capital, stated that with the global increase in stablecoin usage, Tron’s role in digital asset payments and transfer infrastructure has gained importance.

Tron founder Justin Sun also said the ETF launch shows the network is recognized as critical infrastructure for the global digital economy. According to Sun, the product will offer institutional investors a new channel for accessing the Tron network.

Canary Capital has also launched several crypto ETFs tracking HBAR, Litecoin, and XRP over the past year.