Canary Capital Group LLC has officially filed an application with the US Securities and Exchange Commission (SEC) for approval to list and trade a new Exchange Traded Fund (ETF), called Canary Trump Coin ETF . This fund will track the price movements of a memecoin associated with the image of current President Donald Trump.
In its filing Tuesday, Canary emphasized that the fund will provide investors with access to the $TRUMP market, without directly owning the Token. According to the description, the ETF will eliminate many technical barriers as well as storage risks, making it easy for investors to participate through traditional securities accounts.
Not only Canary, some other financial institutions such as Tuttle Capital or a joint venture between Osprey Funds and Rex Shares have also submitted similar proposals. This shows the growing heat around investment products linked to memecoins - an asset that was once considered a "financial joke" but is now gradually becoming a mainstream trend.
This event is all the more remarkable when we recall that, just days after the inauguration in January 2025, both President Trump and First Lady Melania Trump launched their own memecoins. However, this move was met with harsh criticism from some Democratic lawmakers, who argued that it posed a potential conflict of interest. Despite this, the value and public interest in these memecoins have continued to grow, reflecting the increasingly clear intersection between politics and the cryptocurrency market.
Notably, the current landscape is somewhat more favorable for crypto ETFs. Under the new administration, the SEC is reportedly opening up to digital investment products, as the agency considers dozens of different ETF proposals, from those tracking Solana (SOL) to Dogecoin (Doge) . Companies have even recently proposed ETFs that include Staking features, after the SEC determined that much of this activity does not fall within the scope of securities. Additionally, the SEC also took the position in February that memecoins are not securities , further opening the door for funds tied to the asset to be approved more quickly.
