SEC Postpones Decision on Canary Staked TRX ETF
The US Securities and Exchange Commission (SEC) has postponed its decision on the proposed Canary Staked TRX ETF. The ETF, designed to track Tron (TRX) and distribute staking rewards, saw its review deadline extended by 45 days under SEC rules. This marks the SEC’s latest delay in crypto ETF approvals, reflecting its cautious stance on digital asset products. The regulator cited the need for additional analysis of custody and staking mechanisms. Investors should prepare for continued uncertainty in the short term. The delay could mute bullish sentiment for TRX and similar crypto ETFs until regulators complete their review.
Bearish
The SEC’s extension on the Canary Staked TRX ETF review injects further uncertainty into crypto ETF markets. Historically, SEC delays—such as those for spot Bitcoin ETFs—have led to muted trading volumes and price stagnation. Short-term investor sentiment for TRX is likely to weaken as traders await clarity on regulatory approval. In the long term, successful completion of the review could restore confidence, but until then market participants may favor more established assets over new staking ETFs.