First U.S.-listed TRX ETF launches on Cboe as TRXS, staking rewards rolled back into the fund

A first U.S.-listed TRX ETF debuting on Cboe (TRXS) expands regulated access to TRX exposure and can broaden the potential investor base via traditional brokerage channels. The reinvestment of staking rewards into the fund (rather than cash distributions) may affect how total return is delivered and could influence near-term positioning and liquidity dynamics in TRX-related markets.