Apr 18, 07:46 PM

Canary Funds Files for Staked Tron (TRX) ETF With SEC as LUCE Token Drops 70% and Adam Back Calls Bitcoin Undervalued

Canary Funds has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a staked Tron (TRX) exchange-traded fund (ETF). The proposed ETF would incorporate staking features for the Tron cryptocurrency, allowing investors to potentially earn rewards through the staking mechanism. This move reflects growing interest in crypto-based financial products regulated by the SEC. Meanwhile, notable developments in the crypto market include comments from Adam Back, who described Bitcoin as still undervalued, and a sharp decline of approximately 70% in the LUCE token, with most trading volume concentrated on Bybit's futures and spot markets.