Canary Proposes First Political Meme Coin ETF for TRUMP Token in Bold SEC Filing

Wall Street meets meme culture as Canary Capital drops a regulatory bombshell—filing for the world's first political meme coin ETF centered on the TRUMP token.

The ETF Gambit

This isn't just another crypto fund. Canary's proposal packages volatile meme politics into a tradable security, forcing the SEC to confront whether digital campaign merchandise belongs in retirement accounts.

Regulatory High-Wire Act

The filing strategically bypasses direct token ownership—using derivatives and custody solutions to sidestep securities classification debates. It's a masterclass in regulatory arbitrage wrapped in patriotic branding.

Market Mechanics Exposed

TRUMP token's 400% annual swings become features, not bugs. The prospectus essentially monetizes political turbulence—because nothing says stable investment like betting on election odds through internet jokes.

Wall Street's Ironic Embrace

Traditional finance finally found a way to package populist rage into management fees. The ultimate irony? Boomers might accidentally exposure to meme coins while trying to avoid their grandson's Dogecoin habits.

This either legitimizes crypto-political assets or becomes the most spectacular regulatory face-plant since mortgage-backed securities—because nothing secures financial futures like leveraged exposure to Twitter sentiment.

'Extreme volatility'

The filing candidly describes the memcoin as a class of cryptocurrency that "has no identified blockchain-based utility beyond its branding and association with President Donald J. Trump, and its market value is primarily driven by political affiliation, cultural relevance and online community sentiment."

It also notes that since its launch in January 2025, the token's value has been directly associated with President Trump, making it "both a political statement and a digital collector's item."

The TRUMP memecoin, which briefly exceeded $27 billion in reported market value shortly after launch, currently trades around $1.67 billion. The filing warns of extreme volatility, potential regulatory scrutiny, and the possibility of investors losing their entire principal.

However, if approved, the SEC's decision on the Canary TRUMP Coin ETF will be a landmark one, potentially setting a precedent for how the agency views ETFs tied to highly speculative, politically-linked, and community-driven digital assets.