Canary Capital Group LLC has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tied to a cryptocurrency linked to former President Donald Trump.
In its registration statement submitted Tuesday, the firm introduced the Canary Trump Coin ETF, which would track the price of the digital token known as $TRUMP. According to the filing, the trust is designed to give investors exposure to the memecoin through a traditional brokerage account, avoiding the direct risks of buying and holding the asset.
The proposal joins a growing wave of crypto-related ETF applications. Other firms—including Tuttle Capital and a partnership between Osprey Funds and Rex Shares—have also submitted filings for similar Trump memecoin products.
The $TRUMP token, along with another coin launched by First Lady Melania Trump, debuted shortly after Inauguration Day in January. Both drew criticism from Democratic lawmakers, who raised concerns about conflicts of interest tied to the couple’s direct involvement.
The SEC’s decision on Canary Capital’s application will come at a time when the agency is reviewing dozens of new crypto ETF proposals. Recent filings have spanned a wide range of tokens, from Solana (SOL) to Dogecoin (DOGE), and several include staking features. While the SEC has stated that many proof-of-stake activities fall outside its regulatory scope, it has clarified that certain liquid staking activities may not qualify as securities.
In February, the SEC also noted that memecoins are not classified as securities, a position that could influence the approval process for funds like the Canary Trump Coin ETF.
As interest in digital assets continues to expand, the Canary filing highlights the growing intersection between politics, pop culture, and crypto finance. Whether the SEC will greenlight a Trump-linked memecoin ETF remains an open question, but the application underscores how traditional investment vehicles are rapidly adapting to the evolving crypto landscape.
