Canary Capital Files for First Trump Coin ETF Worth $1.67 Billion

Canary Capital's proposed TRUMP Coin ETF marks a watershed moment for politically-themed digital assets entering mainstream finance. The Brentwood-based firm's $1.67 billion filing would provide traditional investors indirect exposure to the meme token through regulated channels, circumventing the technical complexities of direct cryptocurrency ownership.

The TRUMP Token briefly achieved a staggering $27 billion market capitalization post-launch, despite having no functional utility beyond its namesake branding. This move follows the successful introduction of spot Bitcoin, Ethereum, and solana ETFs, though no previous fund has targeted a purely politically-linked asset.

Market dynamics reveal growing institutional demand for crypto exposure through familiar investment vehicles. The filing's candid disclosure about the token's speculative nature underscores the evolving regulatory landscape under the Trump administration, where even meme assets can achieve ETF consideration.