Canary Capital presents a formal request before the SEC for ETF of the Memecoin Trump

By Hannah Pérez

Canary Capital Asset Administrator advances to Wall Street with ETF of the Memecoin Trump: formally presented an S-1 record to the SEC of the United States.

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• Administrator Canary Capital wants to take the memecoin Trump to Wall Street.
• He presented to the SEC a formal ETF Trump proposal through an S-1 form.
• Trump is the Token Meme based on Solana launched by President Donald Trump.

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THE ASSETS ADMINISTRATOR Canary Capital, Specialized in cryptocurrency products, it is formally moving to introduce a bottom quoted in the bag (ETF) based on the Memecoin Trump on Wall Street.

This week, the firm took a decisive step towards the integration of Tokens Meme in traditional markets by submitting an application to the United States Stock Exchange and Securities Commission (SEC) for the launch of the “Canary Trump Coin ETF“

This product seeks to offer investors direct exposure to the price of Token Trump, a Memecoin Inspired by President Donald Trump and launched by himself a few days before the inauguration for his second mandate in the White House on January 20, 2025, without the need to directly possess the digital asset.

The application, registered under form S-1, details that the ETF would operate as a fund that Trump would maintain in custody, based on a reference index that adds data on the main commercial platforms that list that token.

Formal request for ETF Trump

According to the official document available on the SEC website, the objective of the fund is to provide access to the Trump market through traditional brokerage accounts, avoiding the barriers and risks associated with the acquisition and direct storage of the Token.

The ETF would literate in an un specified bag under a symbol of Ticker pending, and the actions would be issued in blocks of a size yet to be determined. Canary Capitalbased in Brentwood, Tennessee, acts as a background sponsor, while CSC Delaware Trust Company Funge as a trustee. The preliminary document does not appoint a custodian.

The form explicitly warns of the high volatility of $ Trump, describing it as a speculative asset driven by community feeling and political affiliation, without underlying utility in Blockchain Beyond its brand associated with the last name Trump.

“An investment in the Trust implies significant risks and may not be adequate for investors that are not in a position to accept more risk than in traditional products”warns the document.

The race for the ETF of Memecoins

This movement arises after Canary Capital will register two weeks ago an entity in Delaware under the name “Canary Trump Coin ETF“, A step that analysts interpreted as a preview of a formal request before Sec. The efforts reflect the firm’s interest in capitalizing Trump’s popularity.

Based on the network Solariumthe Token reached a market value of more than USD $ 27,000 million shortly after its debut in January, but its capitalization is around USD $ 1,680 million, with a unit price of approximately $ 8.4, according to data from data from Coingcko. Its value has been criticized for possible conflicts of interest, especially after the simultaneous launch of a Memecoin Associated with the first lady Melania Trump, which generated questions of Democratic legislators.

Canary It is not the only firm interested in ETF of Memecoins. Other similar proposals include requests for Osprey Funds and Rex Shares For funds that track Trump, presented at the beginning of 2025.

In a more friendly regulatory context under the Trump administration, the SEC has assured that Memecoins They are not values, which could pave the way for approval. There are pending requests for ETFs from others Memecoins as Dogecoin (Doge) and Bonk (Bonk), with signatures like Grayscale and Bitwise leading the race.

If approved, the Canary Trump Coin ETF It could establish a precedent for investments in political and cultural tokens in Wall Street, attracting both retail and institutional investors. Meanwhile, the SEC is weighing dozens of cryptocurrency ETF proposals, a process that has been extended –and could continue to spread– for months.

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Article written with the help of AI, edited by Diariobitcoin

Image generated with AI tool, under free use license

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