SEC Reviews Staked Tron ETF; Delays Others 🚀

The U.S. Securities and Exchange Commission (SEC) has acknowledged Canary Capital's application for a staked exchange-traded fund (ETF) based on Tron (TRX). The decision on this ETF is pending, as are several other crypto ETF filings. The SEC posted a notice inviting comments on the proposed rule. Canary Capital had submitted this filing in April, designating Bitgo as the fund's custodian, and it has also filed ETFs for other cryptocurrencies such as Sui, Hedera, and Litecoin. Tron (TRX), launched by Justin Sun in 2017, is a major cryptocurrency with a market cap of $26 billion, ranking as the tenth largest cryptocurrency. While acknowledging this filing, the SEC has postponed decisions on other crypto ETFs like those from Bitwise, Coinshares, and Fidelity. According to ETF analyst James Seyffart, the SEC has historically taken the full evaluation period for such proposals, and early decisions are unlikely. Disclaimers highlight that this is informational content, not financial advice.