BREAKING: Canary Capital Makes Waves with Trump Coin ETF Filing in Delaware
Wall Street meets meme politics—again.
Canary Capital just dropped the regulatory equivalent of a grenade in Delaware, registering a Trump Coin ETF that'll have both crypto degens and MAGA traders reaching for their wallets. Because nothing says 'financial innovation' like tying your portfolio to the most volatile man in America.
Why Delaware? Tax loopholes, baby. The state’s corporate shell game just got a shiny new crypto wrapper.
Expect fireworks when this hits the market—either from rocket emojis in Telegram chats or actual SEC subpoenas. Either way, it’s gonna be entertaining.
“TRUMP” Memecoin Surge 94% in trading activity
The news of the ETF registration immediately triggered a reaction among traders of the Trump Coin meme coin, which runs on the solana blockchain. According to data from CoinMarketCap, the token’s trading volume surged by a massive 94% over the past 24 hours. The price has also seen an increase of 4%, with the token currently trading at $9.50 on a volume of $870 million.
The token has also been showing strength over the past week. It is up more than 7.18% over the last seven days, helped by a general rally in the crypto market.
But despite these recent gains, TRUMP is still far below its all-time high of $75, which it reached in January this year shortly after launch. Since then, it has dropped over 64% from that peak.
Meme Coin ETFs Gain Momentum Among Big Firms
Meanwhile, Canary Capital’s plan for Trump Coin alongside other meme coins is just the latest growing list of meme coins being turned into exchange-traded funds.
For instance, Grayscale, Bitwise, and 21Shares have already submitted filings for ETFs based on Dogecoin, the most well-known meme coin. Canary Capital itself has also filed for a PENGU ETF in the past, showing its interest in the meme coin space.
A Trump Coin ETF WOULD likely bring more trading activity to the token since it would be easier for investors to buy shares of the fund rather than the coin itself.
Also Read: Trump’s Crypto Adviser David Bailey Plans to Buy $762M of Bitcoin
