Canary Capital recently made a significant move by registering the “Canary Trump Coin ETF” entity with the Delaware Division of Corporations on August 13, signaling a potential ETF tied to the TRUMP memecoin.
While this registration is a preliminary step and does not indicate SEC approval, the market reacted swiftly, pushing TRUMP prices from $9.35 to $9.55, showcasing a more than 10% increase for the week.
Institutional interest in memecoins continues to grow, with companies like Grayscale, Bitwise, and 21Shares already exploring funds linked to Dogecoin, while earlier in the year, Osprey Funds and REX Shares filed for TRUMP-related products on January 21.
Canary may be considering a filing under the 33 Act, contrasting with other teams using the 40 Act, potentially altering the filing process and review timeline, as noted by Bloomberg’s Eric Balchunas.
Registering in Delaware is a customary precursor to formal SEC submissions such as S-1s or 19b-4s, providing insight into future plans for market participants without SEC approval or involvement.
The filing has injected optimism among TRUMP token holders, suggesting increased liquidity through a regulated vehicle, although it wouldn’t alter the token’s underlying value.
Following the registration announcement, TRUMP experienced a price surge, a common response to market headlines as retail interest in memecoins is heavily influenced by news flow.
Despite the positive momentum, TRUMP remains significantly below its January peak of $75, highlighting the speculative nature of any potential fund launch and the importance of regulatory safeguards like third-party custody and exchange surveillance.
