The move comes after an approach to the OFT by partners in the joint venture, who include the BBC, BT, ITV, Channel 4, Five, TalkTalk and as revealed today, .
They have submitted analysis to the OFT setting out why the proposed joint venture does not constitute a qualifying merger under the Enterprise Act 2002.
A BBC Trust spokesperson said: "The Trust is aware that the Project Canvas partners have approached the Office of Fair Trading to consider whether the project constitutes a relevant merger."
"This approach is separate to the Trust's own consideration of the BBC's participation in Project Canvas. However, in order to ensure that any potential conclusions from the OFT's processes can be taken into account in the Trust's own decision, we will await the OFT's findings and will publish our final conclusions on Project Canvas later this spring."
Project director, Richard Halton, said: "The Canvas partners are clear that the joint venture does not qualify as a merger."
The OFT will launch a consultation in the next few days which will give critics of the venture, which include Sky and Virgin Media, the chance to register their opposition. The deadline for submissions is 7 April.
Sources close to the venture believe it will be given the green light by the OFT after it has assessed whether Canvas is considered to be a merger, but have raised concerns about the length of time the process will now take.
If Canvas does not get approval from the OFT, it could be referred to the Competition Commission.
Canvas aims to promote a common technology standard that would allow viewers with a broadband connection to watch on-demand services, such as the BBC iPlayer, on their TV sets.
The venture has already been given provisional backing by the BBC Trust. The Trust will make its final decision as to whether to give the project the go-ahead in May.
Currently the Trust is proposing certain conditions for the BBC's participation, to "lessen any adverse impact Canvas might have on the wider market, where possible".
These include a proposal that the BBC must seek BBC Trust approval if the annual cost of the corporation's involvement in Canvas exceeds (or is expected to exceed) current stated costs by more than 20% in any one year.
In addition, the Trust wants the BBC and its Canvas partners to engage with the wider industry. To help achieve this, it wants Canvas to publish the core technical specification well in advance of the planned Canvas launch date, in order to provide sufficient opportunities for the widest range of manufacturers to adapt to the Canvas core technical standards, should they wish to do so.
Further, it wants to ensure that Canvas remains predominantly free-to-air, offering by ensuring this "is enshrined in the objects and shareholders agreement of the Canvas joint venture".
Project Canvas is currently looking for an agency to handle its UK advertising account should it get the go-ahead.
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