Justin Sun Confirms TRX ETF Filing with Staking Rewards

Justin Sun, the founder of Tron (TRX), has confirmed speculation surrounding a potential spot TRX exchange-traded fund (ETF). In a post to his 3.8 million followers on X, Sun shared a link to a Form S-1 filed by Canary Capital, marking the first official bid for a staked TRX ETF in the U.S.

The proposed ETF aims to track the spot price of TRX while offering investors a 4.5% annual yield through staking rewards. This dual benefit sets it apart from other crypto ETF proposals, as the U.S. Securities and Exchange Commission (SEC) has yet to approve any ETF with a staking component. Notably, Grayscale’s similar request for its Ethereum fund is still under review.

Canary Capital's filing did not disclose the exchange on which the ETF would be listed. However, the move has sparked interest across the crypto market, especially as the SEC faces a growing wave of ETF applications, including those tied to XRP, Solana, and Dogecoin.

Tron’s momentum in the market may fuel the ETF's appeal. The TRX token recently overtook Cardano to become the ninth-largest cryptocurrency by market capitalization. Over the past year, TRX has surged by over 122%, with a 5.52% gain in the past month alone. As of now, TRX trades at $0.2417, reflecting a 1.23% daily dip.

Following Sun’s confirmation, analysts believe more asset managers may pursue similar filings, driven by Tron’s strong performance against Bitcoin and Ethereum. If approved, the TRX ETF could open a new chapter for crypto investment, combining passive exposure with yield generation through staking.