Canary Capital Files SEC Registration for Trump Coin ETF in Bold U.S.-Focused Crypto Push
Wall Street meets meme politics as Canary Capital takes the Trump Coin ETF plunge.
The SEC Filing: What's Inside
Canary Capital just dropped paperwork for what might be the most politically charged ETF in crypto history—aiming to bring Trump-themed digital assets to the mainstream markets. No vague promises here; the filing targets direct exposure to tokens tied to the former president's brand and movement.
U.S.-Focused Strategy—Or Just U.S.-Themed Hype?
This isn’t another generic crypto fund. The push is explicitly stateside, tapping into domestic investor sentiment and regulatory momentum. Because nothing says 'American innovation' like turning a political figure into a tradeable asset class—with management fees, of course.
Why This Move Matters Now
With political tokens gaining traction and election cycles moving markets, Canary’s timing feels sharp, if not opportunistic. Love it or hate it, blending partisan buzz with financial product structure might just be the next frontier in ETF saturation. Or the perfect storm of speculation and sentiment.
One thing’s clear: in finance, if there’s a narrative, there’s probably a fee attached.
The approval of the TRUMP ETF to await 2026
ETF issuers are in a rush to get approval for a host of crypto funds after the success of spot Bitcoin and ethereum ETFs, as the SEC under US President Donald Trump has taken a friendlier tone with the sector.
ETF analyst Eric Balchunas commented on the filing, telling the community to “get ready for ETFs to try every combo imaginable.” According to him, there is a “really good chance” that an ETF that actively trades memecoins will eventually exist.
However, “First, we’ll get a slew of active crypto ETFs,” he said, adding that an active memecoin-only fund will likely emerge in 2026. This is possible considering VanEck, 21Shares, and Canary Capital wrote to the US SEC in June asking them to go back to the “first-to-file” rule, which says that ETF applications should be approved in the order they were received by the SEC.
The companies said that the SEC will hurt healthy competition and slow financial innovation by not following the first-to-file rule, which was the normal way to approve applications before crypto ETFs came out.
Meanwhile, the US SEC recently delayed approval decisions on several crypto ETF applications, including Truth Social’s Bitcoin-Ethereum ETF, solana products from 21Shares and Bitwise, and 21Shares’ Core XRP Trust.
The SEC is expected to clear them for trading by October. Analysts and prediction market bettors have signalled that the funds will almost certainly be approved.
ZachXBT calls the Trump Media, Crypto.com deal announcement inaccurate
In other news, as reported by Cryptopolitan, TRUMP Media & Technology Group and Crypto.com announced their plans to start a business using a treasury-style method to collect Crypto.com’s native token, Cronos. The approach will be funded with $1 billion in CRO tokens, $200 million in cash, $220 million in warrants, and an extra $5 billion equity line of credit from a Yorkville affiliate.
However, ZachXBT is digging holes into the partnership. According to the on-chain sleuth, the reports that Trump Media bought $6 billion in $CRO are inaccurate. The Digital Asset Treasury will start with about 19% of the $CRO market cap in tokens and $200 million in cash, which was made by selling tokens at a 50% discount. More purchases will depend on credit lines and warrants.
POV you giveaway CRO tokens you reissued out of thin air earlier this year by forcing through a governance proposal that increased the total CRO supply by 2.33X. https://t.co/WuTLNL9tII pic.twitter.com/I03u96jcvV
— ZachXBT (@zachxbt) August 26, 2025
This is the second time this year that ZachXBT is coming after Crypto.com. In March of this year, ZachXBT accused Crypto.com of CRO supply manipulation. The accusations followed the reissuing of 70 billion Cronos tokens burned in 2021.
According to ZachXBT, Crypto.com was giving out Cronos tokens again that had been taken out of circulation for good. ZachXBT remarked, “CRO is no different from a scam,” adding that the reissued quantity was 70% of the overall supply.
“Your team just reissued 70B CRO a week ago that was previously burned ‘forever’ in 2021 (70% total supply) and went against the community wishes as you control the majority of the supply,” he added.
Earlier this year, Trump Media said it was working with Crypto.com to offer exchange-traded funds and products under its Truth.Fi brand. However, the integrity of crypto.com is at stake.
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