2M
...
Canary Capital has unveiled plans for a groundbreaking ETF in the U.S. that could transform how investors engage with cryptocurrencies. Dubbed the Canary Staked TRX ETF the initiative seeks to mirror the spot price of Tron’s TRX token as per CoinDesk Indices while deducting expenses. The custody of the TRX tokens will be handled by BitGo Trust Company ensuring secure management of the digital assets.
The fund will also venture into staking by allocating portions of its TRX holdings to third-party providers which will generate staking rewards under the safekeeping of BitGo’s control over the private keys. This approach not only promises returns through rewards but also eases the investment process for those familiar with traditional investing channels.
With this move Canary Capital is at the forefront of leveraging the supportive crypto regulations of the current administration. The firm’s aggressive strategy includes filing for multiple crypto-focused ETFs intending to offer a diversified portfolio featuring cryptocurrencies like Solana Litecoin and XRP alongside pioneering efforts like an ETF for the Pudgy Penguins NFT collection.
