Canary records an ETF of the memecoin Trump in the US

By Hannah Pérez

Canary Capital registered an entity in Delaware for a Trump ETF, possibly anticipating an application before the SEC for the launch of a vehicle with exposure to the presidential memecoin.

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• Canary Capital registered an entity in Delaware for a Trump ETF.
• Effort possibly anticipates a formal application to the SEC.
• Other administrators have already proposed ETF with exposure to the presidential token.

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THE ASSETS ADMINISTRATOR Canary Capital, Specialized in cryptocurrency products, it has registered a background quoted in the stock market (ETF) of the Memecoin Trump in Delaware, an effort that anticipates its possible interest in a future launch.

Public archives on the website of the Delaware State Department show that Canary Capital on Wednesday a request submitted for the “ETF Canary Trump Coin“As reported first Cointelegraph. The registration suggests the company’s interest to list an investment product linked to said cryptocurrency in the US market.

Released in January, Trump is the official token meme of the president of the United States, Donald Trump. The Memecoin It launched days before the presidential inauguration, capturing a massive –But fleeting– Market attention.

Trump reached a maximum price of USD $ 73 on January 19, just after its launch and one day before Trump’s official return to the White House for his second term. Since then, its price has decreased more than 80% to be USD $ 9.5, with a capitalization of 1.9 billion dollars, according to data from Coingcko at the time of writing these lines.

ETF Doge heads the race for the ETF Memecoins

While the entity record of the “Canary Trump Coin ETF“It still does not represent a formal request before the SEC for the list and negotiation of an ETF in the Stock Exchange, suggests the interest of Canary of advancing in that direction.

Other administrators such as Osprey Funds and Rex Sharesthey requested from the Bag and Securities Commission (SEC) an ETF for Trump in January, which reflected the interest of the companies to capitalize on the initial popularity of the initial popularity of the Token.

The proposals are part of a broader records of the managers to launch cryptocurrency ETF, including Memecoinswhich would allow US investors to expose this kind of assets without having them directly.

Some observers of the cryptocurrency space have estimated that the current administration of the SEC, favorable to cryptocurrencies, could facilitate the approval of ETF of Memecoins, which would increase its liquidity and generalized acceptance.

Dogecoin The ETF career of Memecoins dominates, in terms of counting proposals, with pending applications for Grayscale, Bitwise and Rex-Osprey In review by the SEC. Bitwise He modified his application to include redemptions in kind, which reduces tax burden and attracts institutional investors. There was also a request for an ETF of Bonk In January.

Although fever for Memecoins It has cooled, the market still maintains an assessment of more than USD $ 80 billion, according to data from Coingcko.

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Hannah Estefanía Pérez / Diariobitcoin

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