Canary Capital has registered a cryptocurrency exchange-traded fund (ETF) aimed at tracking meme coin tokens associated with U.S. President Donald Trump.
According to the Delaware government website, Canary Capital applied for the registration of the Canary Trump Coin ETF on Wednesday. This registration indicates the launch of a crypto ETF that will track the Official Trump (TRUMP) token, although a formal application to the U.S. Securities and Exchange Commission (SEC) may still take months.
According to the Cointelegraph index, the market capitalization of TRUMP is $1.9 billion, ranking it 49th among all cryptocurrencies at the time of writing. Among meme coins, it ranks fifth by market cap, although this list does not include the original meme coin, Dogecoin (DOGE).
Canary Capital's registration follows applications submitted to the SEC by asset management firms Osprey Funds and REX Shares, seeking approval to create an ETF that tracks the TRUMP meme coin. This application was submitted on January 21, just days after the token's launch.
Dmitrij Radin, founder of Zekret and CTO of Fidium, told Cointelegraph in January that under the current crypto-friendly SEC administration, the likelihood of approval for meme coin-based ETFs is higher. He added, "This is a bold move that could bring more liquidity and mainstream acceptance to meme coins."
Dogecoin is a cryptocurrency created as a joke in 2013 and is the most prominent among all meme coins in the ETF space. Currently, at least three Dogecoin ETFs are awaiting SEC review: one from Grayscale, another from Bitwise, and a third from REX-Osprey.
On June 26, Bitwise revised its Dogecoin ETF application to include a physical redemption feature, allowing investors to convert ETF shares into the underlying asset without first converting to cash. This feature reduces tax burdens, making the ETF more attractive to institutional investors.
In addition to the Dogecoin ETF, there was also a BONK ETF application in January. Since a series of exit scams exposed the risks of tokens to retail investors in the spring of 2025, the meme coin craze has largely subsided.
According to CoinGecko data, as of the time of writing, the market capitalization of the meme coin sector exceeds $82 billion.
Related: Report: Trump's cryptocurrency investments have profited $2.4 billion since 2022
Original article: “Canary Capital Registers Official Trump (TRUMP) ETF in Delaware”
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