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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Document Content:

As filed with the Securities
and Exchange Commission on May 15, 2026

Registration

UNITED
STATES

SECURITIES
AND EXCHANGE COMMISSION

WASHINGTON,

PRE-EFFECTIVE

AMENDMENT NO. 1

FORM

REGISTRATION
STATEMENT

UNDER

THE
SECURITIES ACT OF 1933

CANARY
STAKED TRX ETF

(Exact name
of registrant as specified in its charter)

Delaware	39-6956746

(State or other jurisdiction of
incorporation or organization)	(I.R.S.
Employer

Identification
Number)

c/o Canary Capital Group LLC

8 Cadillac Drive, Suite 300

Brentwood, TN 37027

(Address,
including zip code, and telephone number, including area code,

of registrant’s principal executive offices)

Copy

Morrison
C. Warren, Esq.,

James Audette,
Esq.,

Chapman and Cutler
LLP

320 South Canal
Street

Chicago, IL 60606

Approximate date of commencement
of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement.

If any of the
securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933 check the following box: ☒

If this Form is filed to register
additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering: ☐

If this Form is a post-effective
amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective
amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. ☐

Indicate by check
mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or
an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller
reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated
filer	☐	Accelerated filer	☐

Non-accelerated
filer	☒	Smaller
reporting company	☒

Emerging
growth company	☒

If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

The Registrant
hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall
file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with
Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission,
acting pursuant to said Section 8(a), may determine.

The
information in this Preliminary Prospectus is not complete and may be changed. We may not sell these securities until the registration
statement filed with the Securities and Exchange Commission is effective. This Preliminary Prospectus is not an offer to sell these securities
and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

Subject
to Completion Dated May 15, 2026

PROSPECTUS

Shares

Canary Staked TRX ETF

The Canary Staked
TRX ETF (the “Trust”) is an exchange-traded product that issues shares of beneficial interest (the “Shares”)
that trade on the ________ (the “Exchange”). The Trust’s primary investment objective is to seek to provide
exposure to the price of TRX (“TRX”) held by the Trust, less the expenses of the Trust’s operations and other
liabilities. A secondary investment objective is for the Trust to earn additional TRX through its participation in the staking
program (the “Staking Program”) administered by the Sponsor, in which staking rewards will be earned through the validation
of transactions in the Tron network’s (the “Tron Network”) proof-of-stake (“PoS”) process. In seeking
to achieve its investment objectives, the Trust will hold TRX and establish its net asset value (“NAV”) by reference
to the CoinDesk TRX USD CCIXber 60m New York Rate (“Pricing Benchmark”). The Pricing Benchmark is calculated by CoinDesk
Indices (the “Benchmark Provider”) based on a 60-minute time-weighted average price of the TRX-USD CCIXber Reference
Rate (the “Underlying Index”), which is an aggregation of executed trade flow of major TRX trading platforms (“Constituent
Platforms”). Canary Capital Group LLC (the “Sponsor”) is the sponsor of the Trust, CSC Delaware Trust Company
(the “Trustee”) is the trustee of the Trust, U.S. Bancorp Fund Services, LLC is the Trust’s transfer agent (in
such capacity, the “Transfer Agent”) and administrator (in such capacity, the “Administrator”), U.S. Bank,
N.A. is the Trust’s cash custodian (in such capacity, the “Cash Custodian”), and BitGo Bank & Trust, N.A
(the “Custodian”) is the custodian for the Trust, and will hold all of the Trust’s TRX on the Trust’s
behalf.

The Trust is an
exchange-traded product. When the Trust sells or redeems its Shares, it will do so in blocks of 10,000 Shares (a “Basket”)
based on the quantity of TRX attributable to each Share of the Trust (net of accrued but unpaid expenses and liabilities). For
a subscription for Shares, the subscription shall be in the amount of cash needed to purchase the amount of TRX represented by
the Basket being created or in-kind in TRX equal to the amount of TRX represented by the Basket being created, as calculated by
the Administrator (as defined below). For a redemption of Shares, the Sponsor shall arrange for the TRX represented by the Basket
to be sold and the cash proceeds distributed or for the in-kind TRX represented by the Basket to be distributed. A financial firm
that is authorized to purchase or redeem Shares with the Trust (known as “Authorized Participants”) will deliver,
or facilitate the delivery of, TRX or cash to the Trust’s account with the Custodian (in the case of TRX) or Cash Custodian
(in the case of cash) in exchange for Shares when they purchase Shares, and the Trust will deliver TRX or cash to such Authorized
Participant or an Authorized Participant’s designee (an “Authorized Participant Designee”) when they redeem
Shares with the Trust. Shares initially comprising the same Basket but offered by the Authorized Participants to the public at
different times may have different offering prices, which depend on various factors, including the supply and demand for Shares,
the value of the Trust’s assets, and market conditions at the time of a transaction. Owners of the beneficial interests
of Shares (“Shareholders”) who buy or sell Shares during the day from their broker on the secondary market may do
so at a premium or discount relative to the per Share net asset value of the Trust.

The Sponsor is responsible
for administering the Staking Program. Under normal circumstances, the Sponsor will seek to stake all of the Trust’s TRX
through one or more staking providers (each, a “Staking Provider”) except for TRX reserved by the Sponsor in its sole
discretion to facilitate foreseeable redemption transactions, pay Trust expenses or otherwise protect the Trust and its assets.
In consideration for its participation in the Staking Program, the Trust will receive a portion of the staking rewards generated
by the Staking Program.

Shareholders
who decide to buy or sell Shares of the Trust will place their trade orders through their brokers and will incur customary brokerage commissions
and charges. Prior to this offering, there has been no public market for the Shares. The Shares are expected to be listed for trading,
subject to notice of issuance, on the Exchange under the ticker symbol “____.”

The
Trust is offering an indeterminate number of Shares. The offering of an indeterminate amount of the Trust’s Shares is registered
with the Securities and Exchange Commission (the “SEC”) in accordance with the Securities Act of 1933, as amended
(the “1933 Act”). The offering is intended to be a continuous offering. The Trust is not a fund registered under the
Investment Company Act of 1940, as amended (the “1940 Act”), and is not subject to regulation under the 1940 Act.
Investors in the Trust will not, therefore, receive the regulatory protections afforded by funds registered under the 1940 Act.
The Sponsor is not an “Investment Adviser” (as defined in Section 202(a)(11) of the Investment Advisers Act of 1940,
as amended (the “Advisers Act”)), and therefore the Sponsor’s provision of services to the Trust will not be
governed by the Advisers Act and is not subject to a fiduciary standard of care. The Trust is not a commodity pool for purposes
of the Commodity Exchange Act of 1936, as amended (the “CEA”), and the Sponsor is not subject to regulation by the
Commodity Futures Trading Commission (the “CFTC”) as a commodity pool operator or a commodity trading advisor. Shareholders
in the Trust will not benefit from the protections afforded to investors in TRX futures contracts on regulated futures markets.
The Trust’s Shares are neither interests in nor obligations of the Sponsor or the Trustee.