Canary Capital Trump Coin ETF Secures DTCC Listing as Expert Predicts Price Breakout
Highlights
- Canary Capital’s Trump Coin ETF (TRPC) has officially appeared on the DTCC.
- The SEC is still evaluating the ETF filing, with approval timelines yet to be confirmed.
- Expert highlights Trump Coin’s consolidation near key support, expecting a bullish breakout if momentum holds.
Canary Capital’s Trump Coin ETF has been listed on the Depository Trust & Clearing Corporation (DTCC). In light of this, an expert has predicted a price breakout for the meme coin.
Canary Capital Trump Coin ETF Lists on DTCC
Canary Capital’s proposed Trump Coin ETF (ticker: TRPC) has officially appeared on the DTCC platform. This step typically precedes trading readiness for new financial products.
The U.S. Securities and Exchange Commission (SEC) is still reviewing the Trump Coin ETF. The firm is currently looking at the proposal and gathering comments and feedback. This process typically takes a few months, and it’s unclear when a decision will be made.
The DTCC appearance follows Canary Capital’s Trump Coin ETF registration in August. The announcement triggered a surge in market sentiment for the meme coin then, with trading volume spiking shortly after the news broke.
An ETF could offer a big boost in liquidity for the coin. This would help traditional investors get involved without needing to own the actual asset. Some experts believe that the SEC calling meme coins commodities instead of securities might increase the chances of getting approval in the future.
This development is similar to the 21Shares DOGE ETF (ticker: TDOG) being added to the same platform recently. This implies that financial products associated with meme coins are gaining popularity in mainstream markets.
The DTCC’s role in the ETF process is vital. It’s NSCC framework handles trade clearance and settlement. They automate share creation and redemption. Listing on the DTCC signals that the fund has cleared these procedural steps. This puts it in the same category as other digital-asset ETFs preparing for launch.
Expert Predicts Trump Coin Price Rally
In a TradingView analysis, crypto expert Mr Albert shared that the Trump coin has been trading within a sideways range over the past few days. According to H1 chart analysis, the token appears to be approaching a key support zone. He suggested that if this support holds, the token could experience a strong upward movement. This makes it a potential entry point for bullish traders.
The meme coin has shown a solid bounce from its $7.00 support. According to analysts, a sustained move above $7.80–$8.00 would validate a reversal.
Adding to the momentum, Fight Fight Fight LLC announced plans to raise $200 million for a Trump coin treasury. The goal is to buy a large amount of this meme coin to stabilize its value and improve it over the long term.
The treasury initiative spurred an uptick in derivatives activity. Data from Coinglass shows a 6% jump in open interest to $350.91 million, alongside a steady rise in trading volumes on Binance, Bybit, and OKX.
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