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Boost Your Crypto Portfolio with Canary's Tron (TRX) ETF Proposal
Stepping into the altcoin ETF race with a bang, Canary Capital has thrown its hat in the ring with a Tron ETF that offers staking rewards. After submitting a prospectus to the U.S. Securities and Exchange Commission (SEC), the company aims to give investors direct exposure to Tron's price while earning additional income through staking.
Jumpstarting the Altcoin ETF Craze
Canary Capital has been making waves in this arena, building upon its past altcoin ETF proposals. While the exchange on which the Tron ETF will trade remains a mystery, the company intends to leverage CoinDesk Indices data for pricing. The company's recent filing for the Pengu ETF follows previous proposals for Sui, XRP, Hedera (HBAR), Polkadot (DOT), and several others.
This renewed interest in altcoin ETFs comes on the heels of successful Bitcoin and Ethereum ETF entries in the market last year. The combined $35 billion raised by the 11 Bitcoin ETFs introduced since then speaks volumes about the growing appeal of this investment vehicle [Details].
Notice: Canary Capital Group LLC will manage the ETF, with CSC Delaware Trust Company serving as the trustee [Details]. The goal is to provide a secure, regulatory-compliant platform for investors to access staking rewards and invest in Tron.
A Year of More than 120% Growth
With a market capitalization of approximately $23 billion and ranking among the top 10 crypto assets, Tron (TRX) aspires to create a decentralized internet infrastructure using its blockchain. The current trading price, which climbed 0.3% in the last 24 hours, is $0.2446.
Looking at its long-term performance, Tron's value has surged over 120% throughout the past year [Details].
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- Canary Capital's Tron ETF proposal leverages CoinDesk Indices data, offering investors direct exposure to Tron's price and staking rewards, thereby aiming to jumpstart the altcoin ETF craze.
- In addition to the Tron ETF, Canary Capital has previously proposed altcoin ETFs for Sui, XRP, Hedera (HBAR), Polkadot (DOT), and several others.
- The success of Bitcoin and Ethereum ETFs in the market last year, with combined fundraising of $35 billion by 11 Bitcoin ETFs, indicates the growing appeal of this investment vehicle.
- As of the last 24 hours, Tron (TRX)'s current trading price is $0.2446, and over the past year, it has seen a significant growth of over 120%.
