Canary has officially proposed a new ETF that could be a major game-changer for the Tron ecosystem and TRX holders.
Canary has officially proposed a new ETF that could be a major game-changer for the Tron ecosystem and TRX holders, according to a new filing with the SEC.
The Cboe exchange has filed to list the first U.S. spot ETF offering exposure to TRX with built-in staking rewards, a move that could open up the Tron network to a new wave of institutional capital.
The ETF, which will provide exposure to the TRX token using a CoinDesk benchmark for pricing, will also pay out staking yield to ETF holders in the form of a "dividend equivalent" payout. This means that investors who buy and hold the ETF will be able to earn staking yield on TRX without needing to set up a wallet, bridge tokens, or interact with a DeFi protocol.
The SEC now has 45 days to approve or reject the proposed ETF.
If approved, this could be a huge moment for the Tron ecosystem and TRX, potentially attracting billions in institutional money to the network. It could also pave the way for more altcoin ETFs to be listed, expanding the U.S. crypto markets beyond Bitcoin and Ethereum.
This would also be a major development for the DeFi and Web3 space, as it shows how traditional financial products are adapting to incorporate new yield-bearing crypto models.
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