According to Ai 姨 (@ai_9684xtpa), Canary Capital has submitted an application for a TRX spot ETF on April 19, marking TRX as the 13th cryptocurrency to file for a spot ETF following the approval of BTC and ETH ETFs. This indicates an ongoing trend of altcoin ETF applications sparked by the approval of Ethereum's ETF last May. Currently, several cryptocurrencies like SOL, XRP, LTC, and ADA are also in the race for spot ETF approvals.

According to Eric Balchunas, the convenience offered by cryptocurrency ETFs is significant, especially given their ability to mitigate risks such as theft, which is a concern for those holding crypto directly. Balchunas notes the importance of personal choice in managing crypto assets, emphasizing that some prefer the security of ETFs while others value controlling their own keys. This perspective highlights the increasing appeal of ETFs in the crypto market for both institutional and retail investors. Source: Eric Balchunas on Twitter.