On Wednesday, September 9, the Canary Staked TRX ETF began trading on the US market under the ticker TRXS. It is the first exchange-traded fund linked to TRON (TRX) staking, allowing investors to gain exposure to the asset through traditional brokerage accounts while participating in the proof-of-stake mechanism.
The fund was created by Canary Capital. Its primary objective is to track the value of TRX net of expenses and liabilities, while its secondary objective is to earn additional tokens through staking. Canary is expected to stake virtually all TRX held in trust. The staking fee is capped at 20% of rewards earned, with the remaining 80% retained within the fund. Rewards are reflected in the net asset value (NAV) calculation on a daily basis. The annual sponsor fee is set at 1.10% of assets, accrued daily and payable in TRX or cash. BitGo Bank & Trust serves as custodian for TRX, while U.S. Bank handles cash custody. Administrative, accounting, and transfer agency services are provided by U.S. Bancorp Fund Services. The ETF is listed on Cboe.
At the time of the announcement, TRX's market capitalization stood at approximately $32.1 billion, placing the asset eighth among cryptocurrencies. The TRON network is showing significant activity: in Q2 2026, $2.1 trillion in USDT transfers were processed through it, and stablecoin capitalization reached $89.2 billion, of which $87.9 billion (98.5%) was attributed to USDT. The average daily volume of USDT transfers grew 4.3% quarter-over-quarter to $22.8 billion. By early August, TRON surpassed 15 billion transactions since launch, with daily activity exceeding 12.5 million operations.
TRON founder Justin Sun stated that the launch of the Canary Staked TRX ETF demonstrates the growing recognition of the TRON network as critical infrastructure for the global digital economy. Canary Capital CEO Steven McClurg noted that TRON has become an important piece of infrastructure for stablecoin payments and settlements.