Canary Capital Seeks Approval for TRUMP Meme Coin ETF
Digital asset manager Canary Capital has taken a bold step by filing for approval to list an exchange-traded fund (ETF) for the TRUMP meme coin.This move aims to open up investment opportunities for enthusiasts through customary brokerage channels.
The filing comes as the U.S. Securities and Exchange Commission (SEC) reviews various crypto ETF applications. Canary Capital registered its interest earlier this month with a Trust registration, focusing on the memecoin tied to former President Donald Trump.
This TRUMP Coin ETF woudl mirror the value of Official TRUMP, a memecoin that gained traction before Trump’s January inauguration. Approval would place TRUMP among other popular meme coins like Dogecoin and Pudgy Penguins,under consideration for ETF listings.
- Canary Capital filed its S-1 registration recently.
- The ETF would enable investing in TRUMP through regular brokerage accounts.
- It joins a growing list of meme coin ETF filings.
However, achieving SEC approval may be challenging. Expert Eric Balchunas of Bloomberg notes that a futures ETF on TRUMP needs to exist for six months on an exchange. With none available, the filing might face hurdles or require alternative formats.
The SEC has acknowledged numerous forms for spot crypto ETFs, delaying decisions on many but approving some like Bitcoin and Ethereum. With crypto regulations becoming more favorable, enthusiasts await further innovation in this space.
