The reason behind the creation of $TRXS is becoming clear
Canary Staked TRX ETF “$TRXS,” listed on the U.S. market on 9/9
We’ve already covered the listing itself, but since then, Canary and TRON DAO have shared more updates, making it much clearer why they chose TRON for an ETF out of all the many crypto assets ✨️
🔶What did Canary see?🔶
“Places where it’s actually being used”
What Canary is paying particular attention to
Emerging Markets
TRON’s strong presence in emerging markets
TRON has a strong track record of usage for transferring stablecoins, especially USDT, thanks to its low costs and fast settlement
Even in Canary’s TRX Deep Dive,
🔹Payments
🔹Remittances
🔹Digital Commerce
They view TRON as a network with a strong presence in Emerging Markets, among other things
🔶The key is “access to dollars”🔶
What stood out to me in this discussion was the idea that in regions without adequate access to banking infrastructure, stablecoins play a role like “Alternative Banking”
Among these, USDT on TRON
Local currency
↓
USDT
↓
Access to dollar value
↓
Remittances and payments
It is already being used as rails connecting them
In other words, what matters is that it’s being seen not as a “Blockchain that might be used in the future,” but as a “Blockchain where Transactions are already happening” 👍
🔶The “Proof” Canary sees is real-world demand🔶
Personally, I thought this was the most important point this time
If the reasons for creating an ETF are just that it’s “fast,” “cheap,” or “technically superior,” there are other candidates too
But TRON also has
🔹Large amounts of USDT
🔹Ongoing Transactions
🔹Demand for payments and remittances around the world
There is “Proof that is actually being used”
And into that Network
Brokerage accounts
↓
$`TRXS
↓
Exposure to TRX
＋ Staking
The Canary Staked TRX ETF created an entry point from the TradFi side ✨️
🔶And then, to the Cboe Closing Bell🔶
On 9/29, TRON DAO and Canary rang the Closing Bell at Cboe in Chicago
About three weeks after its 9/9 listing, Canary began discussing not just “the launch of a TRX ETF,” but also why TRON and what real-world demand they see value in
I’ve long thought it’s important to see TRON not just as a “Blockchain with lots of USDT,” but as a Stablecoin Settlement Network
I think the investment story Canary is sharing this time is quite close to that
Emerging Markets
🔹Stablecoin
🔹Real Usage
🔹TradFi
When you consider that this combination may have been behind the creation of $TRXS, it makes a lot of sense
Of course, “why they chose TRON” and “whether TRXS will succeed as an investment product” are separate matters, but it will soon be one month since the listing, so
🔹AUM
🔹Shares
🔹Trading volume
🔹TRX holdings
🔹Staking
I’d like to take another look at it through the numbers
