According to the preliminary prospectus, Canary’s proposed fund will issue shares designed to give investors exposure to the price of tron (TRX), after deducting the trust’s operating expenses and other liabilities.
It will establish its net asset value daily at 4 p.m. Eastern time using a Coindesk Indices benchmark that aggregates spot prices from several leading digital asset platforms. The trust also intends to stake a portion of its TRX to earn network rewards, subject to associated liquidity and penalty risks.
Canary Capital is the sponsor, CSC Delaware Trust Company serves as trustee, and Bitgo Trust Company will act as custodian for the trust’s TRX holdings. Ownership of shares will not entitle investors to voting rights, and the trust will not loan or pledge assets or serve as collateral.
The sponsor will pay ordinary operating expenses under a unified fee arrangement, while extraordinary costs will be borne by the trust. The offering will operate continuously under SEC Rule 415, with shares created or redeemed in cash by authorized participants. Each basket will consist of a defined block of shares based on the amount of TRX attributable to each share, net of fees.
The trust was formed as a Delaware statutory trust on April 8 and will operate under a trust agreement between the sponsor and the trustee. Canary has filed for spot exchange-traded funds, or ETFs, tracking SUI, LTC, PENGU (Pudgy Penguins token), HBAR, XRP, AXL, DOGE and SOL. Founded by Steven McClurg—former co-founder and chief investment officer of Valkyrie Funds—the firm seeks to furnish institutional-grade access to a broad spectrum of digital assets.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
