Canary Capital has registered a Trump Coin ETF in Delaware, a movement that gives plans to launch a Spot Exchange-Traded Fund (ETF) that follows the memecoin.
The entity, “Canary Trump Coin ETF”, was admitted on 13 August, according to the state reports.
The registration is usually a precursor to submitting an S-1 application to the US Securities and Exchange Commission (SEC) and a corresponding 19B-4 form through a list exchange.
If submitted, the fund would be the third place that is linked to a meme coin, according to applications for Dogecoin products from other large companies. Canary Capital has also applied for a Pengu ETF, making it one of the few American asset managers to pursue several Altcoin -based ETFs.
The company’s strategy is unusual in a market where most crypto ETF efforts have focused on digital assets with blue chip such as Bitcoin (BTC) and Ethereum (ETH), with incidental diversification in Large-Cap low-1 tokens such as Solana (SOL).
By focusing on smaller, high volatility meme coins, the company positions itself in a niche segment that is often seen as a speculative and outside the regular ETF landscape. The CEO of the company previously stated that the Altcoin ETFs are a bet on undervalued digital assets.
The proposed Trump Coin ETF would provide institutional investors direct exposure to the Solana-based Trump token, possibly inject extra liquidity in the market and create a regulated investment channel for what else is active by the retail trade.
The SEC has previously stated that meme coins are considered raw materials that can simplify the approval process in comparison with tokens that are considered effects.