REX Shares is seeking approval for a new investment product that offers double the daily returns of TRON (TRX), the native asset of the Tron network, through leveraged exposure, according to a new SEC filing.
The prospective fund, called the T-Rex 2X Long TRON Daily Target ETF, will carry a 1.5% management fee. It will not invest directly in TRON but will gain exposure through swaps, call options, and investments in TRON-based ETFs.
The new filing comes amid growing interest in crypto investment products. Apart from Bitcoin, asset managers are also looking to diversify their offerings with other major assets like Ethereum, XRP, Solana, and TRX, to name a few.
Canary Capital filed to launch a staked TRX ETF in the US in April, aiming to provide investors with exposure to TRON’s native token and staking rewards. The proposed ETF would be listed on the Cboe BZX Exchange, with BitGo Trust Company appointed as the fund’s custodian.
The SEC has officially acknowledged the 19b-4 filing, and the application is under review, with a decision expected by late 2025.