Canary Capital registers TRUMP ETF in the US! Institutions make their first major bet on the memecoin market.

On August 13, the asset management company Canary Capital registered the "Canary Trump Coin ETF" in Delaware, USA, planning to launch a spot exchange-traded fund (ETF) tracking the TRUMP Token. This move signifies that institutional funds are entering the memecoin space on a large scale for the first time, potentially introducing a regulatory investment channel to a market that was originally dominated by retail investors. If the S-1 and 19b-4 filings are eventually submitted to and approved by the SEC, this product will become the third spot ETF in the United States linked to meme coins.

TRUMP ETF: A New Player in the Memecoin Market

According to official records from Delaware, the establishment of the "Canary Trump Coin ETF" is a prerequisite step for launching a spot ETF, and a formal application will be submitted to the SEC subsequently. The fund will track the price performance of the TRUMP coin based on the Solana blockchain, allowing institutional investors to directly access the asset's price performance.

Currently, the market capitalization of TRUMP coin is approximately 1.9 billion USD, ranking 49th among all cryptocurrencies and fifth in the memecoin sector (excluding Dogecoin). The launch of the ETF is expected to bring additional liquidity and mainstream recognition to the token.

Canary Capital's altcoin ETF layout

Canary Capital has not only signed up for the TRUMP ETF but has also submitted an application for the PENGU ETF, becoming one of the few American asset management companies to launch multiple altcoin ETFs simultaneously.

In the current crypto ETF market, most products focus on blue-chip assets such as Bitcoin (BTC) and Ethereum (ETH), occasionally involving large public chain tokens like Solana (SOL). Canary Capital's strategy is more aggressive, targeting the memecoin market, which has higher volatility and potentially greater returns. The company's CEO has stated that altcoin ETFs are a bet on "undervalued digital assets."

Regulation and Market Background of Memecoin ETF

The SEC has clearly stated that memecoins are classified as commodity assets, and the approval process is relatively simplified compared to tokens that are regarded as securities. This regulatory stance provides a policy basis for the launch of memecoin ETFs.

Previously, Osprey Funds and REX Shares submitted applications for the TRUMP ETF in January this year; Dogecoin is leading the field, with at least three DOGE ETFs currently waiting for SEC review, including products from Grayscale and Bitwise.

According to CoinGecko data, as of now, the total market capitalization of the memecoin market has exceeded 82 billion USD, indicating that although this sector has cooled down, it still possesses a large capital base.

Potential Impact: From Retail Speculation to Institutional Participation

If the Canary Trump Coin ETF is approved, it will become an important channel for institutional funds to enter the memecoin market, potentially changing the capital structure of that market. Institutional participation means increased liquidity, possibly reduced volatility, and may also attract more traditional investors' attention.

Furthermore, the success of memecoin ETFs may encourage more asset management companies to explore similar products, incorporating altcoins into ETF portfolios, thereby further promoting diversification in the cryptocurrency market.

Conclusion

Canary Capital has registered the TRUMP ETF in Delaware, marking a new phase of regulation and institutionalization in the memecoin market. With the SEC's attitude towards such products gradually becoming clear, and the promotion by pioneers like Dogecoin, memecoin ETFs may become a new hotspot in the crypto market. Investors need to closely monitor the progress of subsequent applications and market reactions, as this could be an important turning point for memecoins transitioning from niche speculation to mainstream investment. For more real-time quotes and in-depth analysis, please follow the official Gate platform.