Canary Capital Files First S-1 for TRUMP Memecoin ETF, Diverging from Rivals

Canary Capital has taken a pioneering step in the cryptocurrency ETF space by filing the first S-1 registration statement for a TRUMP memecoin exchange-traded fund. The Aug. 26 submission to the SEC under the 1933 Securities Act marks a strategic departure from competitors like Tuttle Capital and Rex Osprey, who opted for N-1A investment company registrations.

The MOVE positions Canary's product as a traditional ETF structure rather than an investment company vehicle. By leveraging Form S-1, the firm enables spot price tracking of underlying assets while maintaining compliance with established securities laws. This approach contrasts with the mutual fund framework used by rivals.

Delaware incorporation records reveal Canary's preparation for this launch, with the "Canary TRUMP Coin ETF" entity established on Aug. 13. The filing represents the latest development in a growing trend of institutional interest in memecoin-based financial products.