Canary Capital has submitted a filing to launch an exchange-traded fund for Trump Coin, the meme token tied to U.S. President Donald Trump. The coin surged to $74.43 shortly after inauguration in January 2025 but has since dropped 88.5%, now trading at $8.48.
Unlike earlier ETF applications from Tuttle Capital and Rex Shares, which were filed under the Investment Company Act of 1940, Canary’s proposal falls under the Securities Act of 1933. ETF analysts say this could ease tax obligations but raises questions about regulatory acceptance, especially given the lack of Trump Coin futures trading.
Bloomberg ETF experts note that at least six months of futures activity is typically required for approval, which Trump Coin does not yet have. Despite these hurdles, investor interest in political meme coins remains high. Approval would mark a rare precedent, but most analysts expect a ’40 Act-compliant Trump Coin ETF to have better chances.
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