Several prominent firms have been jumping onto the exchange-traded fund (ETF) wave and filing applications with the U.S. Securities and Exchange Commission (SEC). Moving over Bitcoin (BTC) and Ethereum (ETH), companies were seen embracing altcoins. More recently, Canary Capital filed for a staked ETF based on Tron (TRX). While an array of cryptocurrency ETF proposals were delayed, the SEC was seen acknowledging the staked TRX ETF application from Canary Capital. Amidst this, the price of the altcoin was seen rising.
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Altcoin Rakes In Modest Gains
The entire cryptocurrency market has been rising throughout the past few days. Tron’s TRX failed to mirror the surge that several other coins were recording. The asset moved up by a meager 11% throughout the past month. In addition, the last seven days have been bullish for most assets, but TRX saw a 0.54% decline during this period. At the time of writing, the altcoin was trading at a low of $0.2750 after a daily increase of 1.21%. It should be noted that TRX managed to rise to a high of $0.2814 earlier today.
While the asset remains much below its all-time high of $0.4407, the community is optimistic about TRX. Several are betting on the cryptocurrency’s rise after the Canary Capital staked TRX ETF application gets a green signal.
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When Will A TRX ETF Make Its Debut?
The SEC’s review process typically spans several months. It should be noted that an exact approval date is not specified. But industry experts expect a decision by late 2025. According to data from CoinCodex, TRX will indeed register a notable rise towards the end of 2025. The firm revealed that the asset might increase to a high of $0.3512 during the final month of 2025. This marks a 28% rise from its current price level.
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