SEC Filing Document

Company: Canary Staked TRX ETF
Ticker: 
CIK: 2064768
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-05-15
Accession Number: 0001999371-26-010857
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2064768/000199937126010857/canary-s1a_051526.htm

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expenses for counsel, incurred by the Administrator resulting from any claim, demand, action or suit in connection with any action or omission by the Administrator in the performance of its duties under the Administration Agreement, or as a result of the Administrator acting upon any instructions reasonably believed by it to have been communicated to it or upon reasonable reliance on information or records given or made by the Trust. However, the Trust will not indemnify the Administrator from losses, damages and expenses occasioned by or resulting from the negligence, misfeasance or willful misconduct of the Administrator, its officers, employees or agents as the case may be. Administrator’s Fee Pursuant to the Trust’s unitary fee structure, the Administrator’s fee is paid by the Sponsor in accordance with the Administration Agreement. Governing Law The Administration Agreement is governed by the laws of the State of Wisconsin. Termination of the Administration Agreement

The
Administration Agreement shall continue in full force and effect until the first to occur of: (i) termination for convenience by the Administrator
by an instrument in writing delivered or mailed to the Trust, such termination to take effect not sooner than ninety (90) days after the
date of such delivery; (ii) termination for convenience by the Trust by an instrument in writing delivered or mailed to the Administrator,
such termination to take effect not sooner than thirty (30) days after the date of such delivery; (iii) termination by the Administrator,
by an instrument in writing delivered or mailed to the Trust if the Administrator reasonably determines that servicing the Trust raises
regulatory or reputational concerns, with such termination to take effect not sooner than sixty (60) days after the date of such delivery;
or (iv) termination by the either party by written notice delivered to the other party, based upon: (a) the terminating party’s
determination that there is a reasonable basis to conclude that the other party is insolvent or that the financial condition of the other
party is deteriorating in any material respect, in which case termination shall take effect upon the other party’s receipt of such
notice or at such later time as the terminating party shall designate; (b) the other party committing a material breach of the Administration
Agreement, and failing to remedy such material breach within ninety (90) days of being given written notice of the material breach, unless
the parties agree to extend the period to remedy the breach; or (c) the relevant state or federal authority withdrawing its authorization
of the either party.

Custodial Services Agreement

The Custodial
Services Agreement establishes the rights and responsibilities of the Custodian, Sponsor and the Trust with respect to the TRX
in the Trust TRX Account, which is established and maintained by the Custodian. See “Custody of the Trust’s Assets”
for a description of the TRX Custody Agreement.

Marketing Agent Agreement

Pursuant
to a marketing agent agreement (the “Marketing Agent Agreement”) between the Trust and Paralel Distributors LLC, the
Marketing Agent assists the Sponsor and the Administrator with certain functions and duties relating to distribution and marketing
of Shares including reviewing and approving marketing materials.

Pursuant
to the Marketing Agent Agreement, the Marketing Agent will not be liable for, and the Trust shall indemnify, defend and hold the
Marketing Agent, its affiliates and each of their respective members, managers, directors, officers, employees, representatives
and any person who controls or previously controlled the Marketing Agent within the meaning of Section 15 of the Securities Act
(collectively, the “Marketing Agent Indemnitees”), free and harmless from and against, any and all losses, claims,
demands, liabilities, damages and expenses (including the costs of investigating or defending any alleged losses, claims, demands,
liabilities, damages or expenses and any reasonable counsel fees incurred in connection therewith) that any Marketing Agent Indemnitee
may incur arising out of or relating to (i) the Marketing Agent’s provision of services under the Marketing Agent Agreement;
(ii) the Trust’s breach of any of its obligations, representations, warranties or covenants contained in the Marketing Agent
Agreement; (iii) the Sponsor’s or the Trust’s failure to comply in all material respects with any applicable laws,
rules or regulations; (iv) any claim that the prospectus, registration statement, marketing literature and advertising materials
or other information filed or made public by the Trust (as from time to time amended) includes or included an untrue statement
of a material fact or omits or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein not misleading; provided, however, that the Trust’s obligation to indemnify any of the Marketing Agent
Indemnitees shall not be deemed to cover any such losses, as determined by a court of competent jurisdiction in a final decision
on the merits, arising out of any untrue statement or alleged untrue statement or omission or alleged omission made in the prospectus
or any such advertising materials or marketing literature or other information filed or made public by the Trust in reliance upon
and in conformity with information provided by the Marketing Agent to the Trust, in writing, for use in such prospectus or any
such advertising materials or marketing literature. In no event shall anything contained herein be so construed as to protect the
Marketing Agent against any liability to the Trust for which the Marketing Agent would otherwise be subject by reason of willful
misfeasance, bad faith or gross negligence in the performance of its duties under the Marketing Agent Agreement.

Unless sooner terminated
as provided herein, the Marketing Agent Agreement shall continue in effect for three years from its effective date. Thereafter,
if not terminated, the Marketing Agent Agreement shall continue automatically in effect for successive one-year periods. Notwithstanding
the foregoing, the Marketing Agent Agreement may be terminated by any party at any time upon written notice to the other parties
if (a) any other party becomes insolvent or bankrupt or files a voluntary petition, or is subject to an involuntary petition, in
bankruptcy or attempts to or makes an assignment for the benefit of its creditors or consents to the appointment of a trustee or
receiver or (b) any other party willfully and materially breaches its obligations under the Marketing Agent Agreement and such
breach has not been cured to the reasonable satisfaction of the non-breaching party prior to the expiration of sixty (60) days
after written notice by the non-breaching party to the breach party of such breach.

Transfer Agency Agreement

U.S. Bancorp
Fund Services, LLC serves as the Transfer Agent. The Transfer Agent, among other things, provides transfer agent services
with respect to the creation and redemption of Baskets by Authorized Participants, the issuance and redemption of Shares, the payment,
if any, of distributions with respect to the Shares, the recording of the issuance of the Shares and the maintaining of certain
records therewith.

Resignation, Discharge
or Removal of Transfer Agent

Either the Trust
or the Transfer Agent may terminate the Transfer Agency and Service Agreement for cause for the reasons set forth in the
Transfer Agency and Service Agreement, such as either party’s bankruptcy or committing a material breach of the Transfer Agency
and Service Agreement. The Trust may terminate the Transfer Agency and Service Agreement prior to the expiration of the initial term upon
ninety (90) days’ prior written notice in the event that the Sponsor determines to liquidate the Trust and terminate its registration
with the SEC.

Limitation on Transfer
Agent’s Liability