Canary Capital Seeks SEC Approval for Staked TRX ETF, Signaling Growing Institutional Interest in Tron (TRX)

In a significant development for the cryptocurrency market, U.S.-based asset manager Canary Capital has filed an S-1 application with the Securities and Exchange Commission (SEC) for a Staked TRX Exchange-Traded Fund (ETF). This move highlights increasing institutional interest in Tron’s native token, TRX, and could potentially pave the way for broader mainstream adoption. The filing comes amid ongoing regulatory scrutiny of crypto-related financial products, demonstrating confidence in TRX’s long-term viability. If approved, the Staked TRX ETF would allow investors to gain exposure to TRX’s price movements while earning staking rewards, combining investment and yield-generating opportunities in a regulated product. This development marks an important milestone for the TRON ecosystem as it continues to establish itself in the competitive blockchain space.

White House Redirects COVID.gov to Endorse Lab Leak Theory

The White House has redirected its official COVID-19 information portal, COVID.gov, to a new landing page titled “Lab Leak: The True Origins of COVID-19.” This move is seen as an endorsement of the theory that the pandemic began with a laboratory accident in Wuhan, China.

Canary Capital Files for Staked TRX ETF Approval With SEC

Canary Capital, a U.S.-based asset manager, has submitted an S-1 filing for a Staked TRX ETF with the U.S. Securities and Exchange Commission (SEC). The ETF aims to hold TRX tokens, the native token of the Tron blockchain, and stake them to generate additional yield for investors. The application was submitted on April 18, and BitGo Trust Company will manage the custody of the tokens. The SEC’s regulatory stance on staking crypto in ETFs remains uncertain.

Tron Price Stalls Despite Surge in Fees Towards $1 Billion

The TRON price has stagnated between $0.2210 and $0.2595. Tron (TRX) is currently trading at $0.2430, giving it a market capitalization of $23 billion and making it the ninth-largest coin. Tron has generated over $985 million in fees this year, making it the second most profitable player in the cryptocurrency industry after Tether (USDT). Tron has outperformed Ethereum (ETH) and Solana (SOL) in profitability, processing a significant amount of Tether transactions. On Friday, Tron processed $33 billion in Tether transactions, making it the largest processor of the largest stablecoin in the industry.