Tron ETF flows
1 spot ETF · since 10 Sep 2026
No net flow on Fri 13 Nov: none of the Tron ETFs that reported created or redeemed shares. The last move was +$491K into TRXS on Tue 15 Sep. Read the issue
Net flow · Fri 13 Nov
Fund × day0 No net flow
Last moves
- TRXSTue 15 Sep+$491K
Quiet days
20 of 20 days flat
No creations or redemptions in any of the 1 funds. A 0 here is reported data, not a gap.
Avg entry vs close
By fund−8.1% −$40K
Avg entry$0.3349
TRX · Close 13 Nov$0.3078
Avg entry below close0 of 1
Unrealised · our estimate from daily creations and redemptions, not an issuer report
ETF cost basisNet assets
$47.0M
Cumulative net flow+$500K
Net flow YTD+$491K
Close Fri 13 Nov$0.3077 −0.35%
Tron ETF daily net flow and TRX price
30 trading days: 0 net · 0 inflow days / 0 outflow days · 30 flat days
$M · bars: net flow of 1 fund · dashed: TRX price, own scale · T+1Open dashboard
Tron ETFs ranked by daily flow
1 fund, and small ones: figures are in thousands of dollars where they fit · tick up to four to compare
| Compare | Fund | Details | |
|---|---|---|---|
| TRXSCanary Staked TRX ETFCanary Capital | 0 |
Share price: last daily close · — = not reported
Avg entry — the average price per coin the fund's clients paid, our estimate from daily creations and redemptions, not an issuer report · as of 13 Nov 2026
ETF holders’ average entry vs price
Tron · how the gap to the waterline changed over time
Average entryPrice, daily averageabove entrybelow entry
entry$0.3349price$0.3078
Price below entry: 40 of 60 days · Entry: our estimate from daily creations and redemptions. Price: the coin’s volume-weighted average for each day; the last day uses the latest price.ETF cost basis
Tron ETF flows by fund, day by day
Last 20 trading days, US$ K, newest first. A date opens that day’s issue, a ticker opens the fund.
| Day | TRXSCanary Capital · 1.10% |
|---|---|
| Fri 13 Nov | 0 |
| Mon 19 Oct – Thu 12 Nov · no creations or redemptions (19 days) | |
| 20 days | 0 |
| Fund | 13 Nov | 12 Nov | 11 Nov | 10 Nov | 9 Nov | 6 Nov | 5 Nov | 4 Nov | 3 Nov | 2 Nov | 30 Oct | 29 Oct | 28 Oct | 27 Oct | 26 Oct | 23 Oct | 22 Oct | 21 Oct | 20 Oct | 19 Oct |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TRXS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
— = the fund has not reported that day · 0 = reported, no creations or redemptions · fill shows the sign
Clients’ average entry is below the TRX close in 0 of 1 Tron ETFs
Average entry (hollow) vs TRX close $0.3077 (solid) · 13 Nov · sorted by gap
- TRXSCanary Capital−8.1%−$40Kentry $0.3349
The gap is unrealised and before fees.
Staking in Tron ETFs
1 of 1 Tron ETFs stake · ≈148M TRX staked, 98.8% of the Tron held by ETFs
- TRXS Canary99% staked
No manager filing Form 13F has reported a Tron ETF yet. Q3 2026 filings are due by November 14, 2026. Institutional holders of all crypto ETFs ›
Other crypto ETF flows
Net flow on each asset’s latest reported day · cumulative net flow on the right
Bitcoin
Ethereum
Solana
XRP
Hyperliquid
Chainlink
Hedera
Avalanche
Dogecoin
Litecoin
Sui
Polkadot
BNB
NEAR
ZcashWhat the Tron ETF flow data is telling us
Tron ETF complex has attracted +$500K in cumulative net flow since 10 Sep 2026, with current assets under management of $47.0M across 1 issuer.
Tron ETF flows follow the Canary Staked TRX ETF (TRXS), the single U.S. spot fund on TRX. It listed on Cboe on 9 September 2026, stakes most of its TRX, and for long stretches shows no creations at all — which is itself the signal on this page.
How TRXS is built
TRXS holds TRX, the native token of the TRON network, with BitGo as digital-asset custodian and U.S. Bank holding cash. Canary charges 1.10% a year, one of the higher sponsor fees among spot crypto ETFs, and strikes NAV from the CoinDesk Tron Benchmark Rate, a 60-minute time-weighted price.
The trust is designed to stake at least 90% of its TRX under normal conditions, with Luganodes as staking provider. Service fees on rewards are capped at 20%, so about 80% of staking income stays in the trust and flows into NAV. Staked TRX is frozen and takes 14 days to unfreeze — a liquidity constraint that the sponsor manages by keeping part of the balance unstaked for redemptions.
TRXS started trading with assets already in it: around 2.01 million shares, roughly $50 million, were outstanding when the flow series begins. That starting balance is not counted as inflow here. Since then the share count has moved once in the period we have tracked — a single 20,000-share step on 15 September 2026, about $0.49 million.
So the TRX ETF market is, for now, a fund with meaningful starting assets and almost no secondary demand. Long runs of zero bars are not a data gap: they mean authorised participants found no reason to create or redeem.
What would change TRXS flow
- Staking income versus the 1.10% fee: TRON's staking rewards have to clear a fee that is several times what a Bitcoin ETF charges before holders come out ahead of the price.
- Stablecoin activity on TRON: much of the network's usage is dollar-stablecoin transfers, and investors who buy TRX as a bet on that settlement volume are the natural buyers.
- Premium to NAV: TRXS has traded within a fraction of a percent of NAV, which leaves authorised participants little arbitrage to act on.
- Liquidity in the shares: with thin daily volume, one adviser allocation would show up as a visible basket.
- A second issuer: a cheaper competitor would test whether demand is for TRX itself or simply for being first.
Reading a mostly flat series
Most bars on the TRXS chart are zero. Read them as "no baskets this session", not as missing data, and look at the cumulative line: it steps up only when a basket of 10,000 shares is created.
Net assets in the fund table move with TRX and with staking rewards even when flow is zero, so a rising net-asset figure does not mean new money arrived. Flow is the only number here that isolates investor decisions.
Because the series starts after TRXS already held about $50 million, cumulative flow will stay far below net assets. That gap is the starting balance, not a calculation error.
A daily flow is the dollar value of TRXS shares created minus shares redeemed that day, starting from 10 September 2026. No flow is recorded for the listing day, 9 September.
Frequently asked questions
Is there a Tron ETF?
Yes. The Canary Staked TRX ETF, ticker TRXS, has traded on Cboe since 9 September 2026. It is the only U.S. spot TRX fund and charges a 1.10% sponsor fee.
Does TRXS stake its TRX?
Yes. Canary expects to stake at least 90% of the trust's TRX through Luganodes. Up to 20% of rewards go to service providers; the rest stays in the trust and raises NAV.
Why does the Tron ETF show zero flow on most days?
Because no shares were created or redeemed. Since its launch balance, TRXS has added a single basket — 20,000 shares, about $0.49 million on 15 September 2026.
Why is cumulative flow so much lower than TRXS net assets?
The fund began with about 2.01 million shares, roughly $50 million, already outstanding. That starting balance is not counted as inflow, so cumulative flow measures only what came in after launch.
How long does it take TRXS to unstake?
Staked TRX is frozen for 14 days after an unfreeze request, according to the prospectus, which is why the trust keeps part of its holdings liquid for redemptions.
Where can I see the TRXS price and holdings?
On the TRXS fund page, with price, NAV, premium and fee. Canary's other single-asset ETFs are on the Canary issuer page.
Which Tron ETFs are tracked?
TRXS (Canary Capital).
How far back does the Tron ETF flow history go?
Daily flows start on 10 Sep 2026, the first trading day of the earliest fund — 47 trading days so far.