Tron Inc.

Canary Capital has launched the Canary Staked TRX ETF, trading under the ticker TRXS, the first exchange-traded fund dedicated to Tron, the eighth-largest digital asset by market cap. The fund, the sixth ETF in the issuer's stable, debuted on Sept. 8 and had reached $50.3 million in assets under management by Sept. 16. It pursues two objectives: providing exposure to Tron and using the proof-of-stake process to earn additional Tron by validating transactions on the Tron network. The ETF carries an annual fee of 1.1%, or $110 on a $10,000 investment, above the category average of 0.83%. Canary Capital says the Tron network's value story rests on three pillars: fast transaction finality, low transaction costs, and high network throughput, with a significant perch in stablecoin settlement, particularly Tether.

Canary Capital announced on September 9 the launch of the Canary Staked TRX ETF (TRXS), an ETF linked to TRON's native token TRX. According to the company, it is the first TRX spot ETF in the US to combine spot holdings with staking. The fund tracks the spot price of TRX while participating in TRON's delegated proof-of-stake (DPoS) validation to earn additional TRX. Rewards are not paid directly to investors but are reflected in the daily net asset value (NAV). The ETF is listed on Cboe, with a setup date of September 8 and net assets of $50.25 million (approximately 7.789 billion yen, at an exchange rate of 155 yen per dollar). The sponsor fee is 1.10% per annum, and 90% of assets are staked. Canary Capital CEO Steven McClurg said the fund provides exposure to one of the world's largest blockchain payment networks in a listed product, noting that TRON has become a core payment infrastructure with the adoption of stablecoins. The circulation of Tether (USDT) on TRON exceeds $94 billion (approximately 14.57 trillion yen). In the US, Grayscale launched the first staking-enabled spot ETP in October 2025, and BlackRock listed ETHB in March 2026. With the largest asset managers following suit, yield-bearing ETFs are becoming standard, and their scope has expanded beyond Bitcoin and Ethereum. In Japan, TRX is handled by multiple exchanges, but crypto asset ETFs are not yet permitted. The path is expected to open after the enforcement of the revised Financial Instruments and Exchange Act, which was enacted on July 15, with Bitcoin and Ethereum initially seen as likely candidates.