Canary Capital launches first US staked Tron ETF with 1.10% fee

Canary Capital has launched the Canary Staked TRX ETF (TRXS) on the Cboe BZX Exchange, marking the first U.S. exchange-traded fund to pair spot TRON exposure with staking rewards. The fund debuted on September 9, 2026, with $50.25 million in net assets and a 1.10% sponsor fee, which sits significantly higher than rival staking products. While the fund stakes 90% of its holdings through Luganodes to accrue value directly into its NAV, its actual yield remains unquantified until a full quarter of operations is complete.

TRXS ETF Cboe debut

• ▪The Canary Staked TRX ETF, sponsored by Canary Capital Group LLC, began trading on the Cboe BZX Exchange on September 9, 2026, under the ticker symbol TRXS.
• ▪The Canary Staked TRX ETF launched with $50.25 million in net assets on September 9, 2026.

Staking reward distribution mechanics

• ▪Staking fees for the Canary Staked TRX ETF are capped at 20% of the generated rewards, with the remaining 80% of rewards flowing into the trust's net asset value.
• ▪The Canary Staked TRX ETF is designed to stake at least 90% of its TRON holdings through staking providers, with Luganodes serving as the validator operator.

1.10% fee versus competitors

• ▪The 1.10% sponsor fee for the Canary Staked TRX ETF is higher than Grayscale's Hyperliquid staking ETF fee of 0.29% and Morgan Stanley's ether and solana products at 0.14%.
• ▪The Canary Staked TRX ETF charges an annual sponsor fee of 1.10% of its TRON holdings, which accrues daily and is payable monthly in TRON or cash.

TRON stablecoin transaction volume

• ▪The TRON network's stablecoin market capitalization reached $89.2 billion during the second quarter of 2026, with USDT accounting for $87.9 billion of that total.
• ▪The TRON network processed $2.1 trillion in USDT transfers during the second quarter of 2026, according to an August 10, 2026 Messari report.

Canary Capital altcoin products

• ▪The Canary Staked TRX ETF expands Canary Capital's cryptocurrency portfolio, which already includes exchange-traded funds tracking XRP, Litecoin, and Hedera's HBAR.
• ▪Canary Capital first submitted its Form S-1 registration statement for the staked TRON product to the U.S. Securities and Exchange Commission in April 2025.