15 hours ago
Canary Capital has registered a Trump Coin ETF successful Delaware, a determination that signals plans to motorboat a spot exchange-traded money (ETF) tracking the memecoin.
The entity, “Canary Trump Coin ETF,” was incorporated connected Aug. 13, according to authorities records.
The registration is typically a precursor to filing an S-1 exertion with the U.S. Securities and Exchange Commission (SEC) and a corresponding 19b-4 signifier by a listing exchange.
If filed, the money would beryllium the 3rd spot ETF tied to a meme coin, pursuing applications for Dogecoin products from different large firms. Canary Capital has besides filed for a PENGU ETF, making it 1 of the fewer U.S. plus managers to prosecute aggregate altcoin-based ETFs.
The firm’s strategy is antithetic successful a marketplace wherever astir crypto ETF efforts person centered connected blue-chip integer assets specified arsenic Bitcoin (BTC) and Ethereum (ETH), with occasional diversification into large-cap layer-1 tokens similar Solana (SOL).
By targeting smaller, high-volatility meme coins, the steadfast is positioning itself successful a niche conception often viewed arsenic speculative and extracurricular the mainstream ETF landscape. The firm’s CEO antecedently stated that the altcoin ETFs are a stake connected undervalued integer assets.
The projected Trump Coin ETF would springiness organization investors nonstop vulnerability to the Solana-based TRUMP token, perchance injecting further liquidity into the marketplace and creating a regulated concern transmission for what is different a retail-driven asset.
The SEC has antecedently stated that meme coins are considered commodities, which could simplify the support process compared to tokens deemed securities.
The station Canary Capital registry TRUMP memecoin ETF successful Delaware successful latest altcoin bet appeared archetypal connected CryptoSlate.
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