Canary Capital Group has filed with the U.S. Securities and Change Fee (SEC) to launch a spot exchange-traded fund (ETF) that might maintain the TRUMP Coin (TRUMP), a Solana-based token linked to President Donald Trump.
The proposed “Canary TRUMP Coin ETF,” submitted in an S-1 submitting on Tuesday, marks a daring transfer to deliver probably the most outstanding and risky politically-themed meme cash to Wall Road. A second submitting, known as the 19b-4 and filed by the itemizing change, is required to make the appliance official.
If accepted, the fund would provide buyers publicity to TRUMP by way of conventional brokerage accounts, with out requiring them to self-custody the digital asset.
The transfer by Brentwood, Tennessee-based Canary Capital comes amid a shifting crypto regulatory panorama below the Trump administration. Lately, following the success of spot bitcoin, ether and solana ETFs, many different such autos have been proposed, together with Dogecoin , Chainlink and Cardano .
‘Excessive volatility’
The submitting candidly describes the memcoin as a category of cryptocurrency that “has no recognized blockchain-based utility past its branding and affiliation with President Donald J. Trump, and its market worth is primarily pushed by political affiliation, cultural relevance and on-line neighborhood sentiment.”
It additionally notes that since its launch in January 2025, the token’s worth has been straight related to President Trump, making it “each a political assertion and a digital collector’s merchandise.”
The TRUMP memecoin, which briefly exceeded $27 billion in reported market worth shortly after launch, at present trades round $1.67 billion. The submitting warns of maximum volatility, potential regulatory scrutiny, and the opportunity of buyers shedding their total principal.
Nevertheless, if accepted, the SEC’s determination on the Canary TRUMP Coin ETF will likely be a landmark one, doubtlessly setting a precedent for a way the company views ETFs tied to extremely speculative, politically-linked, and community-driven digital belongings.
Learn extra: Canary Capital’s ETF Plans Took Form Due to Trump
