与SEC一起使用Canary Capital Files S-1表格，为TRON的TRX加密货币提出了一个现货交换基金（ETF）

拟议的ETF独特地包括在TRX现货价格的情况下放入奖励。这标志着它是美国第一个提出的ETF，既可以提供市场敞口又提供积分产量。

Canary Capital has filed for a spot exchange-traded fund (ETF) that would track TRON’s TRX cryptocurrency and include its staking rewards, according to a Monday filing with the Securities and Exchange Commission.

根据美国证券交易委员会的一份提交，Canary Capital已向现货交易所交易基金（ETF）申请，该基金将跟踪Tron的TRX加密货币并包括其存放奖励。

The proposed ETF, named Canary Staked TRX ETF, seeks to provide both capital appreciation from TRX’s spot price and yield-bearing returns from its staking mechanism. Third-party providers will manage the staking services, and BitGo Trust Company will serve as custodian. The ETF will use CoinDesk Indices for pricing data, and its fee and ticker are yet to be determined.

拟议中的ETF名为Canary Staked TRX ETF，试图从TRX现货价格和其堆积机制中获得屈服的回报。第三方提供商将管理Staging Services，而Bitgo Trust公司将担任保管人。 ETF将使用Coindesk索引进行定价数据，其费用和股票尚未确定。

This marks the first proposed spot ETF in the U.S. to offer both market exposure and staking yield. Most crypto ETF applicants have removed the staking components from their filings to comply with SEC requirements.

这标志着美国第一个提议的ETF既可以提供市场曝光率又提供积分产量。大多数加密ETF申请人都将归档组件从其文件中取出，以符合SEC要求。

However, Canary’s direct inclusion of staking in its S-1 filing puts current regulatory boundaries on yield features to the test.

但是，Canary将其直接包含在其S-1档案中，这将当前的监管边界限制在测试中。

The SEC’s Stance on Staking

SEC的立场

Historically, the SEC has opposed investment products offering direct staking features. The commission previously indicated that such services could involve the sale of unregistered securities, leading firms to amend their filings of futures ETFs earlier this year to remove any mention of staking.

从历史上看，美国证券交易委员会（SEC）反对提供直接积分功能的投资产品。委员会先前表示，此类服务可能涉及出售未注册的证券，导致公司在今年早些时候修改其期货ETF的申请，以删除任何对股权的提及。

While the SEC might be rolling out new crypto rules after Trump’s return to power and the regulator is reportedly planning to approve the first-ever Bitcoin ETFs this year, it remains hesitant on staking ETFs.

尽管SEC在特朗普重返权力后可能会推出新的加密规则，并且据报道，监管机构计划批准今年有史以来的第一个比特币ETF，但它仍然犹豫不决。

Earlier this year, the SEC postponed Grayscale’s request to add staking to its existing ETH Trust products.

今年早些时候，SEC推迟了Grayscale的要求，要求将其添加到现有的ETH Trust产品中。

And in this instance, TRON founder Justin Sun’s SEC history adds another layer of complexity. Sun was personally charged in 2023 with manipulating TRX and BTT tokens to inflate their prices. Though a settlement is pending and could arrive this year, the case is still pending and could impact the Canary’s application.

在这种情况下，Tron创始人Justin Sun的SEC历史增加了另一层复杂性。 Sun在2023年被指控操纵TRX和BTT代币以使其价格膨胀。尽管定居点正在待定，并可能在今年到达，但此案仍在待处理中，可能会影响金丝雀的申请。

What About TRON’s Market Position?

那特隆的市场地位呢？

TRX is currently ranked tenth on the top ten crypto list by market cap, valued at over $22 billion.

TRX目前在市值中排名前十的加密货币排名第十，价值超过220亿美元。

Data from StakingRewards shows that TRX offers an annual percentage yield of roughly 4.5% to those who stake their tokens, making it attractive to income investors.

来自Stakingwards的数据表明，TRX的年度百分比为约4.5％，使其具有代币的人，使其对收入投资者有吸引力。

The TRON network is also a market leader for stablecoin volume, specifically USDT, ranking second globally in transactions due to its high capacity and low fees. This usage of USDT drives the majority of TRON’s network activity.

TRON网络还是Stablecoin量的市场领导者，特别是USDT，由于其高容量和低费用，在交易中排名全球。 USDT的这种使用驱动了TRON网络活动的大部分。