TRUMP Memecoin Surges 10% Following Canary Capital ETF Filing

Canary Capital has initiated preliminary steps to launch a TRUMP memecoin ETF by registering the "Canary Trump Coin ETF" with the Delaware Division of Corporations. While this is an early-stage move, the fund still requires SEC filing and approval.

The market responded immediately, with TRUMP's price rising from $9.35 to $9.55—a 10% weekly increase—as traders anticipated potential institutional adoption. This development mirrors a growing trend of financial firms exploring meme assets, similar to recent Dogecoin ETF filings by Grayscale, Bitwise, and 21Shares.

Bloomberg's Eric Balchunas highlights that Canary may opt for registration under the 33 Act, differing from competitors like Tuttle Capital who filed under the 40 Act. This strategic choice could impact both the application's structure and its regulatory review process.