Canary Capital Files for High-Risk TRUMP ETF Amid Regulatory Uncertainty
Canary Capital has filed for a TRUMP-themed ETF, marking the third such attempt in 2025 following earlier proposals by Rex Shares and Tuttle Capital. Unlike its predecessors, this filing falls under the ’33 Act rather than the ’40 Act—a distinction Bloomberg analyst James Seyffart notes introduces higher risk. The SEC’s response could signal its stance on politically branded crypto products.
The MOVE reflects a broader trend of meme coin-driven ETF applications, fueled by friendlier crypto regulations. Trump’s media company has also filed for multiple MAGA-branded funds, though Eric Balchunas suggests the Canary product may face eligibility hurdles. Market observers are watching whether regulatory scrutiny will temper the wave of novelty crypto ETFs.
