Overview
- Canary Capital began trading the Canary Staked TRX ETF under the ticker TRXS on the Cboe BZX Exchange on Wednesday, September 9, 2026.
- The trust intends to stake at least 90% of its TRX and will retain and typically restake at least 80% of staking rewards rather than pay them out in cash to shareholders.
- Service providers may take up to 20% of staking rewards and the sponsor charges a 1.10% annual fee that is paid monthly in TRX or cash.
- BitGo Bank & Trust will custody the TRX private keys while U.S. Bank handles cash custody, and the product is structured as an exchange-traded product with different investor protections than a registered investment company.
- A 14-day TRON unstaking delay creates a liquidity mismatch that Canary plans to manage with unstaked reserves, creation and redemption mechanics through authorized participants, and potential credit facilities, and observers will watch premiums, spreads, net creations or redemptions, and the TRX-per-share metric to judge whether the structure holds up.