Cboe BZX Exchange Files to the SEC to List a Staked Tron (TRX) ETF

The US Securities and Exchange Commission (SEC) has recently acknowledged the 19b-4 filing by Cboe BZX Exchange for a staked Tron (TRX) ETF, proposed by Canary Capital.

The US Securities and Exchange Commission (SEC) has acknowledged the 19b-4 filing by Cboe BZX Exchange for a staked Tron (TRX) ETF, proposed by Canary Capital.

This news comes as the SEC continues its evaluation of several crypto-related products, with several altcoin-based ETFs being prepped for launch in the US.

Canary Capital submitted its registration in April with Bitgo as the custodian, adding to its existing ETF proposals for altcoins like Hedera, Sui, and Litecoin.

TRX is currently trading at $0.274 with no loss or gains in the past 24 hours. The tenth-largest cryptocurrency is trying to break out of the horizontal channel $0.20-$0.25. It has been consolidating within this range since late-2024, relatively underperforming in comparison to the broader crypto market.

However, the Buy/Sell Pressure Delta, a momentum indicator based on 90-day volume, recently signaled that TRX has shifted back into a buying zone. This indicates renewed investor interest and growing bullish sentiment.

Popular trader Crypto NL predicted on X that if TRX continues the anticipated bullish setup, it could reach $0.60 in the upcoming bull run.

Another analyst Javon Marks echoed similar bullish sentiment, stating that the cryptocurrency could cross the $1.11 price target soon. If this happens, traders could see a +400% rally from the current price levels.

On the daily TRX price chart, the RSI is currently sitting around 66, indicating moderate bullish momentum. This suggests room for further upside before a potential reversal.

Bollinger Bands are beginning to widen, potentially signaling the early stages of a breakout. Price is currently approaching the upper band, which generally indicates strong upward momentum. Support can be found at mid band (20-day SMA) around $0.26.

Meanwhile, the MACD has crossed above the signal line with a rising histogram, another bullish sign pointing to building momentum. The nearest resistance lies at $0.30, and a breakout above that could lead to a sharp move upward.