Canary Capital is looking to launch an Exchange Foundation (ETF) that tracks the price of throne native token, TRX, according to a filing.

The Hedge Foundation submitted a form S-1 to Canary Staked TRX ETF with Securities and Exchange Commission (SEC) Friday. As the name suggests, the fund – if approved – would insert parts of its stocks.

This would be done through third -party providers, where Bitgo acts as a depot for the assets. The fund tracks TRX’s spot price using Coindesk index calculations.

A proposed ticker as well as the management fee of the product has not been shared yet.

The issuers had initially submitted applications for Spot Ethereum (ETH) ETFs with the stacking function included, but removed them in a changed archiving later to receive approval from SEC on their proposal.

While SEC under former President Gary Gensler was strictly opposed to deploying, issuers have grown more hopeful that they will be able to add the feature to their Spotether Funds among others with the appointment of crypto-friendly chair Paul Atkins.

A decision on a February request from GRAYSCALE to allow efforts in the Grayscale Ethereum Trust ETF (Ethe) and Grayscale Ethereum Mini Trust Etf (ETH) was postponed by the regulator just a few days ago.