TLDR
- Canary Capital has registered a Trump Coin ETF entity in Delaware on August 13.
- The registration signals the company’s plans to offer institutional investors exposure to the Trump Coin meme coin.
- The announcement caused a surge in the price of Trump Coin, reflecting a bullish outlook for the asset.
- The Trump Coin ETF could inject more liquidity into the meme coin ecosystem, benefiting market participants.
- Canary Capital’s filing likely precedes further regulatory steps, including an S-1 and 19b-4 filing with the SEC.
Canary Capital has officially registered a Trump Coin ETF entity in Delaware, signaling its plans to launch a fund targeting institutional investors. This registration, filed on August 13, indicates the company’s intention to offer exposure to the meme coin through an ETF. The move has already sparked optimism in the market, with the price of Trump Coin seeing a notable increase following the announcement.
Trump Coin ETF Boosts Market Liquidity
The registration of the Trump Coin ETF provides a bullish outlook for the meme coin, which saw a sharp price spike after the news broke. As the asset manager moves closer to an official filing, the market anticipates that this fund will boost liquidity in the Trump Coin ecosystem.
“The introduction of a Trump Coin ETF will likely attract institutional interest and inject more capital into the market,” said a market analyst.
Moreover, the Trump Coin ETF could be a significant milestone, as it marks a growing trend of meme coin ETFs. This would place the Trump Coin ETF alongside other meme coin ETFs already in the works, such as those for Dogecoin. Investors are now watching closely for further regulatory moves, as the SEC’s stance on meme coins is evolving.
Trump Coin ETF and the SEC’s Regulatory Path
Canary Capital’s registration for the Trump Coin ETF in Delaware typically precedes filings with the U.S. SEC. Following this move, the company is expected to file for registration with the SEC, while an exchange will likely seek approval to list the fund. The SEC has already categorized meme coins as commodities, increasing the likelihood of the fund’s approval.
The Trump Coin will further the trend of meme coin ETFs, with similar filings from Grayscale, Bitwise, and 21Shares for Dogecoin. Canary Capital’s entry into the meme coin ETF space reflects growing institutional interest. Given the SEC’s previous approval of meme coin ETFs, market participants remain optimistic about the Trump Coin ETF’s prospects.
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Source: https://blockonomi.com/canary-capitals-surprise-move-trump-coin-etf-registered-in-delaware/