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Canary Capital Registers Trump Coin ETF on Delaware
The prospects of another Trump memecoin ETF filing have gained momentum after the latest Delaware registration by Canary Capital.
On Wednesday, Canary Capital registered the Canary Trump memecoin ETF with the Delaware State Department, according to its website. The filing, which is one of the first steps in launching an ETF product, has triggered speculation of an impending official application with the US Securities and Exchange Commission.
Another Trump Meme ETF Imminent
Bold Prospect Of a Memecoin ETF
Under the formal US SEC regime, the prospects of a memecoin ETF were seemingly impossible, considering the tightened regulatory landscape. However, with Trump’s election and a change in power in the Commission, altcoin ETFs, especially meme-based funds, have had a fighting chance.
Moreover, the US SEC does not see meme coins as securities, a sentiment that would further ease their approval. The agency’s Division of Corporate Finance made this disclosure in February, classifying them as collectibles.
Leading the line are the Dogecoin ETFs, which have seen prominent asset managers like Bitwise, Grayscale, and 21Shares file for. Bitwise recently amended its application to include in-kind creation and redemption, a feature now seen in the Bitcoin and Ethereum spot ETFs.
Meanwhile, there is also a BONK ETF filing, but none yet for Shiba Inu and Pepe. Nonetheless, the Shiba Inu ecosystem team remains optimistic that asset managers will look its way soon.