Canary Capital Files First Spot ETF for Trump’s Meme Coin

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Crypto fund manager Canary Capital has filed to launch the first U.S. spot exchange-traded fund (ETF) tied directly to President Donald Trump’s meme coin, TRUMP, marking a Wall Street first.

Key Takeaways:

  • Canary Capital has filed for the first U.S. spot ETF directly backed by Trump’s meme coin under the Securities Act of 1933.
  • Analysts doubt SEC approval due to the absence of TRUMP futures, though a diversified ETF remains possible.
  • If approved, the ETF would mark a historic first for a sitting president’s personal crypto project amid volatile token performance.

The filing, submitted Tuesday, differs from earlier attempts by other ETF providers, which structured their proposals under the Investment Company Act of 1940.

Those applications would have invested in offshore subsidiaries holding TRUMP tokens alongside safer assets such as U.S....

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