SEC Filing Document

Company: Canary Staked TRX ETF
Ticker: 
CIK: 2064768
Filing Type: S-1
Document Type: EX-3.1
Date Filed: 2025-04-18
Accession Number: 0001999371-25-004423
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2064768/000199937125004423/ex3-1.htm

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to involve the Trustee in personal liability or is contrary to the terms of this Agreement or of any document contemplated hereby to which the Trust or the Trustee is a party or is otherwise contrary to law. If at any time the Trustee determines that it requires or desires guidance regarding the application of any provision of this Agreement or any other document, or regarding compliance with any direction received by it hereunder, then the Trustee may deliver a notice to the Sponsor requesting written instructions as to the course of action desired by the Sponsor, and such instructions by the Sponsor shall constitute full and complete authorization and protection for actions taken and other performance by the Trustee in reliance thereon. Until the Trustee has received such instructions after delivering such notice, it may refrain from taking any action with respect to the matters described in such notice.

6.             The
Trustee shall be entitled to receive compensation from the Sponsor for its services in accordance with such schedules as shall have
been separately agreed to from time to time by the Delaware Trustee and the Sponsor. The Trustee may consult with counsel (who may
be counsel for the Sponsor). The Trustee may earn compensation in the form of short-term interest on items like uncashed
distribution checks (from the date issued until the date cashed), funds that the Trustee is directed not to invest, deposits
awaiting investment direction or received too late to be invested overnight in previously directed investments. The Sponsor hereby
agrees to: (i) reimburse the Trustee for all reasonable expenses (including reasonable fees and expenses of counsel and other
experts); (ii) indemnify, defend and hold harmless the Trustee and the officers, directors, employees and agents of the Trustee
(collectively, including the Trustee in its individual capacity, the “Indemnified Persons”) from and against any and all
losses, damages, liabilities, claims, actions, suits, costs, expenses, disbursements (including the reasonable fees and expenses of
counsel), taxes and penalties of any kind and nature whatsoever (collectively, “Expenses”), to the extent that such
Expenses arise out of or are imposed upon or asserted at any time against such Indemnified Persons with respect to the performance
of this Agreement, the creation, operation, administration or termination of the Trust, or the transactions contemplated hereby;
provided, however, that the Sponsor shall not be required to indemnify an Indemnified Person for Expenses to the extent such
Expenses result from the willful misconduct, bad faith or gross negligence of such Indemnified Person; and (iii) advance to each
such Indemnified Person Expenses (including reasonable fees and expenses of counsel) incurred by such Indemnified Person, in
defending any claim, demand, action, suit or proceeding prior to the final disposition of such claim, demand, action, suit or
proceeding upon receipt by the Sponsor of an undertaking, by or on behalf of such Indemnified Person, to repay such amount if it
shall be determined that such Indemnified Person is not entitled to be indemnified therefor under this Section 6. The obligations of
the Sponsor under this Section 6 shall survive the resignation or removal of any trustee of the Trust, shall survive the termination
of this Agreement and the termination of the Trust.

7.             The
number of trustees of the Trust initially shall be one (1) and thereafter the number of trustees of the Trust shall be such number as
shall be fixed from time to time by a written instrument signed by the Sponsor which may increase or decrease the number of trustees
of the Trust; provided, however, to the extent required by the Delaware Act, there shall at all times be one trustee of the Trust that
shall either be a natural person who is a resident of the State of Delaware or, if not a natural person, an entity which has its principal
place of business in the State of Delaware and otherwise meets the requirements of applicable law. Subject to the foregoing, the Sponsor
is entitled to appoint or remove without cause any trustee of the Trust at any time. Any trustee of the Trust may resign upon thirty
days’ prior notice to the Sponsor and the other trustee(s), if any.

8.             This Agreement may be executed in one or more counterparts.

9.             This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware (without regard to conflict
of laws principles).

10.           The Corporate Transparency Act (31 U.S.C. § 5336) and its implementing regulations (collectively, the “CTA”),
may require the Trust to file reports with the U.S. Financial Crimes Enforcement Network. It shall be Sponsor’s duty, and not the
Trustee’s duty, to prepare such filings, cause the Trust to make such filings, and to cause the Trust to comply with its obligations
under the CTA, if any.

IN WITNESS WHEREOF, the
parties hereto have caused this Trust Agreement to be duly executed as of the day and year first above written.

CANARY CAPITAL GROUP LLC,

Delaware limited liability company, as Sponsor

By:	/s/ Steven McClurg

Name: Steven McClurg

Title: Chief Executive Officer

CSC DELAWARE TRUST COMPANY, as Trustee

By:	/s/ Gregory Daniels

Name: Gregory Daniels

Title: Vice President