Breaking: Canary Capital Files S-1 For Trump Coin ETF With U.S. SEC
Highlights
- Canary Capital has filed an S-1 form its Trump coin ETF following the Delaware registration.
- A 19b-4 filing is expected to come soon enough, which would kickstart the review process.
- The TRUMP meme coin is up almost 2% today.
Asset manager Canary Capital has made further progress with its plans to offer a Trump coin ETF, with its S-1 filing with the SEC. This comes just a day after the firm filed for an ‘American-made Crypto ETF,’ which could interestingly also invest in the TRUMP meme coin.
Canary Files For Trump Coin ETF With SEC
A SEC filing shows that the asset manager has filed its S-1 form for its Trump coin ETF. The fund will seek to provide institutional investors with exposure to the Solana meme coin, which has ties to the U.S. president.
This development follows Canary’s registration of the ETF in Delaware, a move that has shown the firm’s intention to offer this meme coin ETF. In line with this, CSC Delaware Trust Company will be the fund’s Trustee. Meanwhile, Canary didn’t mention the fund’s custodian.
With the S-1 filing in place, an exchange will likely file a 19b-4 filing to list and trade shares of the Trump coin ETF. This will officially kickstart the review process, in which the SEC will have to approve or disapprove the proposed rule change.
Meanwhile, this latest crypto ETF filing adds to a flurry of crypto-related filings that Canary already made as it looks to offer exposure to several crypto assets. As CoinGape reported, the asset manager yesterday filed for an American-made Crypto ETF.
This fund will invest in coins that have their origin in the U.S., or were mainly minted in the U.S., or whose protocol operates in the country. This means that this fund could also invest in the Trump coin, which falls under these three categories.
The Trump coin is up amid Canary’s S-1 filing. TradingView data shows that the top Solana meme coin is currently trading at around $8.34, up almost 2% in the last 24 hours.
“First Pure 33 Act Spot Filing”
In an X post, Bloomberg analyst James Seyffart noted that this is the first pure ’33 act spot filing for the Trump coin. Rex-Osprey and Tuttle had filed for a Trump coin ETF, but that was under the 40 Act.
Meanwhile, TRUMP coin is now the third meme coin that has an existing ETF application under the 33 Act. Canary Capital has filed to offer a PENGU ETF, while asset managers like Grayscale and Bitwise have filed to offer ETFs for the top meme coin Dogecoin.
It is worth mentioning that the Dogecoin and PENGU ETF applications are well ahead in the review process and could even get approval from the SEC by October. This is when the SEC is also likely to approve other crypto ETFs, such as the Solana and XRP ETFs.
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