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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Shares. Instead, Shares are represented by one or more global certificates, which are deposited by the Administrator with DTC and registered in the name of Cede & Co., as nominee for DTC. The global certificates evidence all of the Shares outstanding at any time. Shareholders are limited to (1) participants in DTC such as banks, brokers, dealers and trust companies (“DTC Participants”), (2) those who maintain, either directly or indirectly, a custodial relationship with a DTC Participant (“Indirect Participants”), and (3) those who hold interests in the Shares through DTC Participants or Indirect Participants, in each case who satisfy the requirements for transfers of Shares. DTC Participants acting on behalf of Shareholders holding Shares through such participants’ accounts in DTC will follow the delivery practice applicable to securities eligible for DTC’s Same-Day Funds Settlement System. Shares are credited to DTC Participants’ securities accounts following confirmation of receipt of payment. DTC

DTC
has advised us as follows: It is a limited purpose trust company organized under the laws of the State of New York and is a member of
the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code and a “clearing
agency” registered pursuant to the provisions of Section 17A of the 1934 Act. DTC holds securities for DTC Participants and facilitates
the clearance and settlement of transactions between DTC Participants through electronic book-entry changes in accounts of DTC Participants.

TRANSFER OF SHARES

The
Shares are only transferable through the book-entry system of DTC. Shareholders who are not DTC Participants may transfer their Shares
through DTC by instructing the DTC Participant holding their Shares (or by instructing the Indirect Participant or other entity through
which their Shares are held) to transfer the Shares. Transfers are made in accordance with standard securities industry practice.

Transfers
of interests in Shares with DTC are made in accordance with the usual rules and operating procedures of DTC and the nature of the transfer.
DTC has established procedures to facilitate transfers among the participants and/or accountholders of DTC. Because DTC can only act on
behalf of DTC Participants, who in turn act on behalf of Indirect Participants, the ability of a person or entity having an interest in
a global certificate to pledge such interest to persons or entities that do not participate in DTC, or otherwise take actions in respect
of such interest, may be affected by the lack of a certificate or other definitive document representing such interest.

DTC
has advised us that it will take any action permitted to be taken by a Shareholder (including, without limitation, the presentation of
a global certificate for exchange) only at the direction of one or more DTC Participants in whose account with DTC interests in global
certificates are credited and only in respect of such portion of the aggregate principal amount of the global certificate as to which
such DTC Participant has or DTC Participants have given such direction.

SEED CAPITAL INVESTOR

(the “Seed Capital Investor”) has indicated its intent to purchase _____ Shares at a per-Share price of $25.00 (the
“Seed Baskets”). The proceeds of such sale are expected to be denominated in-kind in TRX based on the TRX-USD
price established by the Pricing Benchmark on the date of such purchase. The Seed Capital Investor will act as a statutory
underwriter in connection with the Seed Baskets. See “Plan of Distribution” for additional information. The Seed Capital
Investor may offer all of the Shares comprising the Seed Share and the Seed Baskets to the public pursuant to this Prospectus.

The
Seed Capital Investor will not receive from the Trust, the Sponsor or any of their affiliates any fee or other compensation in connection
with the sale of the Seed Baskets. The Seed Capital Investor will be acting as a statutory underwriter with respect to the Seed Baskets.

The
Seed Capital Investor will not act as an Authorized Participant with respect to the Seed Baskets, and its activities with respect to the
Seed Baskets will be distinct from those of an Authorized Participant. Unlike most Authorized Participants, the Seed Capital Investor
is not in the business of purchasing and selling securities for its own account or the accounts of others. The Seed Capital Investor will
not act as an Authorized Participant to purchase (or redeem) Baskets in the future.

PLAN OF DISTRIBUTION

Buying and Selling Shares

Most
investors buy and sell Shares of the Trust in secondary market transactions through brokers. Shares trade on the Exchange under the ticker
symbol “____.” Shares are bought and sold throughout the trading day like other publicly traded securities. When buying or
selling Shares through a broker, most investors incur customary brokerage commissions and charges. Shareholders are encouraged to review
the terms of their brokerage account for details on applicable charges.

Authorized Participants

The
offering of the Trust’s Shares is a best efforts offering. In addition to, and independent of the initial purchase of the
Seed Baskets (described above), the Trust continuously offers Baskets consisting of 10,000 Shares to Authorized Participants.
Authorized Participants pay a transaction fee for each order they place to create or redeem one or more Baskets.

The
offering of Baskets is being made in compliance with Rule 2310 of the FINRA Rules. Accordingly, Authorized Participants will not make
any sales to any account over which they have discretionary authority without the prior written approval of a purchaser of Shares.

The
per share price of Shares offered in Baskets on any subsequent day will be the total NAV of the Trust calculated shortly after the close
of the Exchange on that day divided by the number of issued and outstanding Shares of the Trust. An Authorized Participant is not required
to sell any specific number or dollar amount of Shares.

executing an Authorized Participant Agreement, an Authorized Participant becomes part of the group of parties eligible to purchase Baskets
from, and put Baskets for redemption to, the Trust. An Authorized Participant is under no obligation to create or redeem baskets or to
offer to the public Shares of any Baskets it does create.

Because
new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a “distribution,”
as such term is used in the 1933 Act, will be occurring. Authorized Participants, other broker-dealers and other persons are
cautioned that some of their activities may result in their being deemed participants in a distribution in a manner that would
render them statutory underwriters and subject them to the prospectus-delivery and liability provisions of the 1933 Act. For
example, the initial Authorized Participant will be a statutory underwriter with respect to the initial purchase of Baskets and the
Seed Capital Investor will be a statutory underwriter with respect to the Seed Basket. Any purchaser who purchases Shares with a
view towards distribution of such Shares may be deemed to be a statutory underwriter. In addition, an Authorized Participant, other
broker-dealer firm or its client will be deemed a statutory underwriter if it purchases a basket from the Trust, breaks the basket
down into the constituent Shares and sells the Shares to its customers; or if it chooses to couple the creation of a supply of new
Shares with an active selling effort involving solicitation of secondary market demand for the Shares. In contrast, Authorized
Participants may engage in secondary market or other transactions in Shares that would not be deemed “underwriting.” For
example, an Authorized Participant may act in the capacity of a broker or dealer with respect to Shares that were previously
distributed by other Authorized Participants. A determination of whether a particular market participant is an underwriter must take
into account all the facts and circumstances pertaining to the activities of the broker-dealer or its client in the particular case,
and the examples mentioned above should not be considered a complete description of all the activities that would lead to
designation as an underwriter and subject them to the prospectus-delivery and liability provisions of the 1933 Act.

Dealers
who are neither Authorized Participants nor “underwriters” but are nonetheless participating in a distribution (as contrasted
to ordinary secondary trading transactions), and thus dealing with Shares that are part of an “unsold allotment” within the
meaning of Section 4(a)(3)(C) of the 1933 Act, would be unable to take advantage of the prospectus-delivery exemption provided by Section
4(a)(3) of the 1933 Act.

While
the Authorized Participants may be indemnified by the Sponsor, they will not be entitled to receive a discount or commission from the
Trust or The Sponsor for their purchases of Baskets.

and ________have each executed an Authorized Participant Agreement.

Selling Shareholders