Lucía Peña
Canary Capital Group LLC has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC), seeking approval to launch the Canary Trump Coin ETF. The product aims to give investors direct exposure to $TRUMP, a memecoin tied to former President Donald Trump, without requiring them to buy and hold the token themselves.
According to the filing, the fund would allow access to Trump Coin trading through traditional brokerage accounts, eliminating the risks and complexities of direct crypto ownership.
Canary is not the only player eyeing this niche. Tuttle Capital and a joint effort between Osprey Funds and Rex Shares have also filed for Trump Coin ETFs. Interest surged after both Donald Trump and First Lady Melania Trump launched separate memecoins shortly after Inauguration Day in January, sparking controversy. Democratic lawmakers criticized the launches, raising conflict-of-interest concerns over the involvement of a former president.
A Changing Regulatory Landscape
The filing comes as the SEC reviews dozens of crypto ETF proposals, reflecting a more flexible regulatory environment. Recent applications have spanned assets from Solana (SOL) to Dogecoin (DOGE), signaling broader institutional interest in alternative digital tokens.
Additionally, the SEC has recently clarified its stance on staking, noting that most proof-of-stake activities do not fall under securities regulation, and certain liquid staking practices are also outside its remit. This shift has opened the door for ETF issuers to experiment with new structures, including staking-enabled funds.
SEC’s View on Memecoins
In a February update, the SEC stated explicitly that memecoins are not considered securities. This distinction provides firms like Canary with a clearer path to bringing novelty crypto products—such as a Trump-themed ETF—into mainstream financial markets.
