Trump Coin Skyrockets After Canary Capital Officially Files ETF

Canary Capital Moves to Launch Trump Coin ETF as Memecoin Craze Gains Momentum

Amid a growing wave of cryptocurrency-related exchange-traded fund (ETF) applications in the United States, investment management firm Canary Capital has filed paperwork for a Trump Coin ETF, a financial product tied to a Solana-based memecoin associated with the current U.S. President. The move comes during heightened interest in digital asset investment vehicles and could mark one of the most high-profile attempts to bring meme-inspired cryptocurrencies into mainstream financial markets.

Industry observers say the proposed ETF, which would track the price of the TRUMP token, could open a new chapter in the intersection of politics, pop culture, and cryptocurrency. In anticipation of the launch, the TRUMP coin has seen a price increase of approximately 9% over the past week, underscoring the market’s appetite for speculative tokens tied to high-profile figures.

Source: CoinMarketCap

A Strategic Filing in a Competitive ETF Race

According to public filings in Delaware, Canary Capital has formally established a statutory trust, the first step in launching the Trump Coin ETF. The company is expected to follow this with an S-1 registration statement and a 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) — two regulatory milestones required before the ETF can be listed on a U.S. exchange.

Notably, Bloomberg ETF analyst Eric Balchunas explained that Canary Capital’s application falls under the Securities Act of 1933 (the “’33 Act”), setting it apart from similar filings made by other firms like Tuttle Capital, which pursued approval under the Investment Company Act of 1940 (the “’40 Act”). The distinction could have implications for the speed and structure of regulatory review.

“This filing signals that Canary Capital is taking a unique route, potentially giving them a competitive edge in the race to market the first Trump Coin ETF,” Balchunas said.

Market Reactions and Price Movements

The TRUMP token, launched on the Solana blockchain, has experienced a notable uptick in both price and trading volume since the ETF news broke. Over the last 24 hours, the coin gained 3%, hitting a weekly high of $10.18 before settling near $9.59. Over the past month, it has recorded a 6% gain, with daily trading volume surging 62% to over $1.03 billion.

Crypto market analysts suggest that the anticipation of ETF approval has been a key driver of these movements, mirroring similar patterns seen when Bitcoin and Ethereum ETFs were first proposed.

“The market is responding to the perceived legitimacy that comes with an ETF,” said crypto strategist Helen Moreno. “Even if approval is months away, the psychological effect on traders can be immediate.”

Part of a Larger Memecoin ETF Trend

Canary Capital’s filing is not the first attempt to package a memecoin into an ETF format. Earlier this year, REX Shares, a U.S.-based asset manager, became the first to file for a Trump Coin ETF. Their proposed product aims to allocate at least 80% of its assets directly into the TRUMP token.

Memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and now TRUMP have transitioned from internet novelties to serious investment opportunities in the eyes of some retail and institutional traders. DOGE, in particular, has the most pending ETF applications of any memecoin, with companies like Grayscale, Bitwise, and REX-Osprey awaiting the SEC’s decision. Prediction market platform Poymarket currently assigns a 61% probability of a Dogecoin ETF approval by 2025.

“The memecoin phenomenon is no longer just a fringe internet culture trend,” noted analyst Dmitrij Radin, founder of Zekret. “An approved ETF could bring unprecedented liquidity and a new wave of investors into this segment of the crypto market.”

A Shift in SEC’s Crypto Stance

The SEC, historically cautious about cryptocurrency products, has shown signs of becoming more receptive to digital asset ETFs following its landmark approval of spot Bitcoin ETFs earlier this year. Industry insiders believe that a memecoin ETF, while unconventional, could eventually gain approval as part of the regulator’s broader acceptance of crypto-based investment products.

Bloomberg’s Balchunas predicts the progression will be incremental: “First, we’ll see a range of actively managed crypto ETFs gain approval. Then, inevitably, a memecoin-only fund will enter the market.”

Radin adds that such a development could help “normalize memecoins as a legitimate, albeit high-risk, asset class” and potentially attract mainstream brokerage platforms to list them more widely.

Why a Trump Coin ETF Matters

The potential launch of a Trump Coin ETF stands at the crossroads of politics, finance, and internet culture. Unlike Bitcoin or Ethereum, which are built around broader blockchain utility, TRUMP is explicitly tied to a public figure and the political zeitgeist.

This unique positioning could make it both highly attractive and polarizing. Supporters argue that it offers a novel way to diversify investment portfolios while tapping into a passionate community base. Critics, however, warn that the asset’s price could be heavily influenced by political events, policy decisions, or shifts in public sentiment toward the President.

The coin’s connection to the Solana blockchain also adds a technical dimension. Solana is known for its fast transaction speeds and low fees, making it a popular platform for memecoin projects. However, it has faced network outages in the past, raising concerns about reliability.

Looking Ahead: What’s Next for the Trump Coin ETF?

The road to ETF approval is rarely straightforward. Even with growing acceptance of cryptocurrency-based investment products, the SEC will likely scrutinize the Trump Coin ETF for compliance, investor protection measures, and market manipulation risks.

If approved, the ETF could debut in late 2025, depending on the pace of regulatory review. Market watchers expect heightened volatility in the TRUMP token in the months leading up to any potential approval.

In the meantime, Canary Capital appears to be positioning itself as a pioneer in the memecoin ETF space, potentially beating competitors to market. Its recent filing for an Injective Protocol ETF further underscores its ambition to be a leader in alternative cryptocurrency investment products.

The Bigger Picture for Memecoin Investors

For everyday investors, the Trump Coin ETF could serve as a regulated gateway into one of the riskiest yet most lucrative corners of the cryptocurrency market. The ETF structure would allow exposure to the TRUMP token without requiring investors to manage a digital wallet or navigate decentralized exchanges.

Still, experts caution that memecoin investing remains highly speculative. While the ETF could reduce some barriers to entry, it will not shield investors from sharp price swings or market downturns.

“An ETF doesn’t change the underlying volatility of the asset,” Moreno warned. “It just makes it more accessible.”

Conclusion

The filing for the Trump Coin ETF by Canary Capital is more than just another addition to the crowded crypto ETF field. It represents a bold attempt to bridge political branding, internet culture, and traditional finance. Whether it succeeds will depend not only on regulatory approval but also on how the broader market embraces — or rejects — the idea of investing in a politically themed memecoin.

As the SEC weighs its decision, traders, investors, and political observers alike will be watching closely. One thing is certain: the conversation about what belongs in a regulated investment product is evolving rapidly, and memecoins are no longer on the sidelines.

Writer @Erlin

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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