Canary Capital files S-1 for a spot TRUMP ETF
Digital asset manager Canary Capital, a key player in the crypto industry, has filed for approval to list an exchange-traded fund for the Trump memecoin.
- Canary Capital has filed its S-1 for a spot TRUMP meme coin exchange-traded fund.
- The filing comes as the U.S. Securities and Exchange Commission considers several applications for crypto ETFs.
Canary Capital filed its S-1 registration for the Official Trump ( TRUMP ) meme coin on Tuesday, adding U.S. President Donald Trump ‘s meme coin to its list of applications for spot exchange-traded funds currently before the U.S. Securities and Exchange Commission.
Initially, Canary signalled its intention with a Trust registration earlier this month.
The Canary Trump Coin ETF will track the price of Official TRUMP, the memecoin that launched ahead of President Trump’s inauguration in January. Approval would give investors an opportunity to buy TRUMP tokens via traditional brokerage accounts.
Is a spot TRUMP ETF coming?
The S-1 filing sets the stage for Canary Capital’s move to launch a TRUMP spot ETF.
What this means is that the fund joins the likes of Dogecoin ( DOGE ) and Pudgy Penguins ( PENGU ) on the list of memecoin related ETF filings. SEC acknowledged the Canary’s filing for a PENGU ETF in early July, and just delayed its decision until a later date.
While the latest proposal has elicited excitement across the TRUMP meme community, Bloomberg senior ETF expert Eric Balchunas says it may be difficult for this to go through. Largely, Balchunas notes that there needs to be a futures ETF on the coin on an exchange for at least six months.
Currently, there is no such product, and he opines that the filing could be a “40 Act product.”
The SEC has acknowledged multiple forms 19b-4 for spot exchange-traded funds , as well as delayed decisions on many since giving a nod to Ethereum ( ETH ) spot ETFs in 2024. Prior to that, the securities watchdog has approved spot Bitcoin ( BTC ) ETFs for the U.S. market.
Notably, with the regulatory landscape increasingly crypto-friendly, anticipation is high that more ETFs on digital assets will soon be available to investors via traditional market infrastructure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum News Today: Ethereum's $4.96B Exit Queue Tests Long-Term Bull Case
- Ethereum (ETH) faces short-term pullback risks near $4,280 after failing to break $4,600, but $1.2B ETF inflows and Layer-2 growth support long-term optimism. - Record $4.96B validator exit queue raises selling pressure concerns, extending withdrawal times to 18 days and testing market resilience. - Institutional confidence grows with $1.2B whale transfers to ETH, robust staking activity, and Standard Chartered's $7,500 year-end price target. - Analysts predict 10.22% 5-day price increase to $4,933, but
Ethereum News Today: Arbitrum's Governance Model Powers Surging RWA Adoption and TVL Growth
- Arbitrum (ARB) surges 17% in 24 hours, reaching $3.08B market cap via PayPal PYUSD integration and Timeboost upgrades. - Governance token enables DAO voting on protocol upgrades, with 53% of 10B max supply circulating. - TVL hits $3.39B YTD as Ethereum activity drives layer-2 adoption, but ARB remains below $2.40 all-time high. - $14M security fund allocation and DeFi expansion position Arbitrum to compete with Optimism/Op in RWA market.
Regulators and Rivals Reshape Tether’s Stablecoin Reign
- Tether's stablecoin dominance fell to 59.45% in August 2024, its lowest share since March 2023, as competition intensifies. - Circle's USDC gained 30% market share, while new entrants like Ethena's USDe (4.32%) and USD1 (0.88%) emerged as significant players. - Regulatory pressures, including Tether's MiCA non-compliance and U.S. GENIUS Act requirements, reshaped market dynamics and trust perceptions. - Despite shifting shares, stablecoin total market cap hit $180.37B, showing competition drives value re
Institutional Confidence in Bitcoin: What BlackRock's $24.6M BTC Purchase Means for Retail Investors
- BlackRock’s $24.6M BTC purchase via IBIT signals Bitcoin’s shift to institutional core asset. - Its 56% ETF AUM and liquidity strategies reduce Bitcoin’s volatility by 15% since 2023. - Institutional credibility and infrastructure normalize Bitcoin, encouraging retail adoption as macro-hedge. - Critics question structured transfers, but BlackRock’s 3.546% BTC holdings suggest long-term value storage. - BlackRock’s actions drive institutional adoption, reducing volatility and accelerating Bitcoin’s mainst
Trending news
MoreCrypto prices
More
