According to CoinMeta, Canary Capital has announced that its upcoming Canary collateralization of TRX ETF is "imminent," referring to a revised registration statement submitted to the U.S. Securities and Exchange Commission on August 19. The asset management company has not yet announced a trading date, and the latest application is still a preliminary prospectus, stating that securities shall not be sold before the registration statement takes effect. As of September 4, there has been no notification of the SEC taking effect. The product will use TRXS as the trading code, allowing investors to obtain exposure to TRX through regular brokerage accounts, while also participating in the collateralization process of the TRON network. The main goal of the fund is to track the price of TRX held by the trust, deducting operating expenses and other liabilities; the secondary goal is to earn additional TRX through the network's proof-of-stake process. Canary is expected to allocate the majority of the trust's TRX to collateralization, with the prospectus stating that the collateralization fees do not exceed 20% of the generated rewards. Under the current structure, the trust will retain the remaining 80%. The fund's rewards will be included in the calculation of its daily net asset value.