The asset manager of the United States Canary Capital tabled a note to list a bargain on the stock market (ETF) holding the native token of the Tron network, TRX (TRX), according to regulatory documents.
The fund intends to hold Trx spot and play part of the tokens for more return, said the file.
According to CoinmarketCap, the TRX token has a total market capitalization of more than $ 22 billion. The implementation of TRX generates an annualized return of approximately 4.5%, according to data from Stukingrewards.com.
The deposit is the last in a bounds of submissions aimed at listing FNB holding alternative cryptocurrencies, or “altcoins”.
However, the Canary’s proposed fund is relatively unique to request authorization to put its assets in cryptography in its initial request. Other American ETFs, such as those who hold the native token of the Ethereum network, Ether (ETH), only asked for approval for having succeeded only after having managed to list a fund holding the token. They are still waiting for a regulatory decision.
Tron is a blockchain network of proof of proof founded by Justin Sun, which also owns Rainberry (formerly Bittorrent), the developer of the Bittorrent protocol.
In March 2023, the SEC continued Sun for having allegedly inflated fraudulently inflated the prices of the tron token and the BTTTorrent BTT token.
In February, the SEC and the Sun asked the judge supervising the trial to suspend the case to allow the parties to conclude settlements of settlement.
In relation: Canary Capital offers the first ETF Suis in the deposit of the American sec
ETF Altcoin season
Since US President Donald Trump took office in January, US regulators have recognized dozens of documents for proposed cryptographic investment products.
They include plans for FNBs holding native layers such as Solana (ground) as well as even official Trump (Trump).
Since 2024, Canary has deposited several American crypto ETF offered, notably funds with Litecoin (LTC), XRP (XRP), Hedera (Hbar), Axlar (AXL), Pengu (PEGGU) and Su (Sui).
Some industry analysts doubt that ETFs hold non-essential cryptocurrencies will be adopted by traditional investors.
“Most FNB Crypto will not manage to attract alms and cost money for transmitters,” said Crypto researcher Alex Krüger in a Mars article on the X platform.
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