Canary Capital has submitted paperwork to the U.S. Securities and Exchange Commission for a spot Trump Coin ETF, aiming to trade under the ticker MRCA.
The move marks the firm’s latest attempt to brand itself around American-born crypto projects, following yesterday’s filing for an “American-Made Crypto ETF.”
The broader strategy is clear: build regulated investment vehicles around digital assets that were created in the U.S., primarily mined on American soil, or whose operations are centered domestically. Alongside Trump Coin, contenders include XRP, Solana, Litecoin, Algorand, and Chainlink — all tokens with American origins.
Political Winds at the SEC
ETF issuers are racing to file while the SEC, under President Donald Trump’s administration, maintains a more open stance toward digital asset products. Analysts expect the Commission to decide on several pending crypto funds, including Solana and XRP ETFs, by October.
Still, some applications — such as the Trump Coin ETF — may not see approval until 2026. Bloomberg’s Eric Balchunas suggested the industry is entering a phase where “every combo imaginable” will be tested, predicting that active funds, and even memecoin-only ETFs, could emerge in the coming years.
Debate Over ETF Rules
A flashpoint for issuers has been the SEC’s approval process. Firms like Canary, VanEck, and 21Shares recently pressed the agency to reinstate its old “first-to-file” rule, which prioritized applications based on submission date. They argue that deviating from this approach undermines competition and slows innovation in the rapidly growing crypto ETF market.
Controversy Around Trump Media’s Crypto Plans
The Trump Coin filing comes as Trump Media & Technology Group faces scrutiny over its separate deal with Crypto.com. Initially reported as a $6 billion CRO token purchase, on-chain investigator ZachXBT says the figures are exaggerated. He claims the partnership actually involves $200 million in cash and discounted CRO tokens, with further acquisitions dependent on credit lines and warrants.
ZachXBT also renewed criticism of Crypto.com for reissuing 70 billion Cronos tokens earlier this year, tokens that had been burned in 2021. He accused the exchange of supply manipulation, calling CRO “no different from a scam.”
Despite the controversy, Trump Media has continued working with Crypto.com on its Truth.Fi brand, which aims to roll out ETFs and crypto-linked products.
What Comes Next
With spot Bitcoin and Ethereum ETFs already trading in the U.S., the push for single-asset funds tied to other tokens is accelerating. Whether the Trump Coin ETF secures approval in 2026 will depend not only on market demand but also on how the SEC balances political momentum, investor protection, and growing calls to streamline its approval process.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Reporter at Coindoo
Source: https://coindoo.com/xrp-solana-and-litecoin-in-spotlight-as-trump-coin-etf-hits-sec/