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Canary Capital submitted an ETF application for the memecoin TRUMP
Canary Capital has signed up for a cryptocurrency ETF to follow the price of the memecoin TRUMP, a coin associated with President Donald Trump.
According to the Delaware Secretary of State's website, a filing named Canary Trump Coin ETF was submitted on Wednesday, showing plans to launch an ETF that will follow the TRUMP token ( at the current price of 10.11 USD). However, the official filing with the U.S. Securities and Exchange Commission (SEC) may take a few more months.
Canary Capital's filing follows moves from Osprey Funds and REX Shares, which submitted to the SEC to establish an ETF that tracks TRUMP just days after this token launched on January 21. Analysts believe that under the SEC's current crypto-friendly leadership, the chances of a memecoin ETF being approved will be higher, paving the way for liquidity and widespread acceptance.
Dogecoin remains the leading memecoin in the ETF space, with at least 3 ETF applications awaiting approval from Grayscale, Bitwise, and REX-Osprey. Notably, Bitwise recently amended its application to include an in-kind redemption option to reduce tax burdens and attract institutional investors. Besides Dogecoin, the memecoin BONK also had an ETF application submitted back in January.