Exciting News for Crypto Investors: The Canary Capital Staked TRX ETF Could Be a Game-Changer
Justin Sun Spots Opportunities for TRON ETF, Asserting Undervalued Market Impact
In the world of cryptocurrencies, things are heating up! Justin Sun, the Founder of TRON and Advisor to HTX, is confident that the Staked TRX ETF proposed by Canary Capital Group will gain approval from regulators. This groundbreaking ETF would provide investors with an opportunity to earn enhanced yield through staking—a feature rarely seen in crypto ETFs.
This livestream, titled "TRX ETF is Coming? The First Altcoin ETF with Staking Rewards - Will It Spark a New Crypto Bull Run?," brought together HTX_Molly, crypto influencers, and Sun to discuss the TRX ETF filing, the outlook for staking-based ETFs, and regulatory compliance.
First-of-its-Kind ETF With Staking Rewards
The distinctiveness of this TRX ETF application lies in its staking mechanism, which could provide extra yield opportunities for investors. With only a few crypto ETFs with pending S-1 filings incorporating staking features, the approval process for such ETFs is more challenging than for spot ETFs. However, Justin Sun remains optimistic due to the SEC's increasing openness towards cryptocurrencies under its new crypto-friendly Chairman Paul Atkins.
Justin Sun: Market Is Underestimating Approval Probability
During the event, Sun expressed his optimism, stating that the market might be underestimating the chances of the TRX ETF's approval. He believes his previous experience in securing approval for Bitcoin futures ETFs and subsequent Bitcoin spot ETFs, combined with the success of the TRX ETF's listing and outperformance in Europe, makes a strong case for its approval.
Furthermore, Sun pointed out that the rarity of ETF applications reaching the S-1 filing stage suggests that approval for the TRX ETF may not be far off. Even if the SEC initially rejects the application, the team would revise the S-1 document based on the SEC's recommendations and continue the application process.
Potential Impact of TRX ETF Approval
According to Sun, the approval of the TRX ETF could significantly impact the crypto market. He argues that the Bitcoin spot ETF's approval led to inflows of a few tens of billions of dollars, which in turn caused a trillion-dollar market rally. Sun believes the TRX ETF could have a similar or even greater impact, potentially igniting the next bull run and attracting a wave of institutional interest in crypto ETFs.
Facilitating RWA Growth
The TRX ETF would also foster growth in Real-World Assets (RWA). Sun explains that while technology is essential, the absence of a clear mechanism for traditional institutions to acquire public chain tokens and share in their appreciated value is a significant barrier to large-scale institutional investment. The ETF serves as the key to unlocking this potential and ensuring that trillions of assets move onto the blockchain.
The Future of HTX
Looking ahead, Justin Sun emphasized that 2025 is a pivotal year for enhancing regulatory compliance and expanding collaborations within the U.S. market. He stated that the TRX ETF application is just the beginning, with TRON and HTX having significant developments planned for subsequent quarters.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses, encompassing digital asset trading, financial derivatives, research, investments, incubation, and other ventures. As a leading gateway to Web3, HTX aims to provide users with secure and reliable services.
Stay tuned for more updates and exciting developments from HTX! To learn more, visit HTX Square or https://www.htx.com/, and follow HTX on X, Telegram, and Discord. For further inquiries, please contact [email protected].
Source: HTX / Medium
Important Note: This information should not be construed as financial advice. Always do your own research and invest at your own risk.
Compiled by Factiva
- The TRX ETF, a first-of-its-kind cryptocurrency ETF with staking rewards, proposed by Canary Capital Group, could revolutionize the crypto investing landscape, providing enhanced yield opportunities for investors.
- Justin Sun, the Founder of TRON and Advisor to HTX, is optimistic about the TRX ETF's approval, predicting that it could have a significant impact on the crypto market, similar to the Bitcoin spot ETF's approval, which caused a trillion-dollar market rally.
- HTX, a comprehensive blockchain ecosystem encompassing digital asset trading, financial derivatives, research, investments, incubation, and more, has significant developments planned for subsequent quarters, with the TRX ETF application being just the beginning.
- The distinctiveness of the TRX ETF lies in its staking mechanism, a feature rarely seen in crypto ETFs. Despite the challenging approval process for such ETFs, the SEC's increasing openness towards cryptocurrencies under its new crypto-friendly Chairman Paul Atkins offers hope for the TRX ETF's approval.
- The approval of the TRX ETF could not only impact the crypto market but also facilitate growth in Real-World Assets (RWA). By serving as the key to unlocking traditional institutions' potential investment in public chain tokens, the ETF could help bring trillions of assets onto the blockchain.
