Canary Capital Seeks SEC Nod for Spot Trump Coin ETF

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DeFi News
TRUMP-4.92%
SOL-3.28%

Canary Capital Group LLC has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission proposing the Canary Trump Coin ETF, a spot exchange-traded fund that would track the price of the Solana-based $TRUMP memecoin linked to President Donald Trump. The vehicle is designed to let investors gain exposure to the token through a traditional brokerage account rather than holding the cryptocurrency directly.

The submission, dated 26 August, adds to a growing roster of crypto-linked ETF applications the SEC is reviewing in a more accommodating regulatory climate. Similar products tied to $TRUMP have already been proposed by Tuttle Capital as well as a partnership between Osprey Funds and Rex Shares. The filing follows the agency’s February guidance that memecoins are not securities, a position that has encouraged asset managers to expand offerings in the increasingly popular segment of Solana-based tokens.

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