The Trump Coin ETF from Canary Capital indicates that traditional finance products containing memecoins may still have demand.
Canary Capital has registered a crypto exchange-traded fund (ETF) designed to track a memecoin token linked to US President Donald Trump.
According to the Delaware State Department website, Canary Capital filed on Wednesday for the Canary Trump Coin ETF. The registration suggests the launch of a crypto ETF tracking the Official Trump (TRUMP) token, though a formal filing with the Securities and Exchange Commission (SEC) could still be months away.
According to Cointelegraph indexes, TRUMP has a market capitalization of $1.9 billion, ranking it 49th among all cryptocurrencies at this writing. Among memecoins, the token is listed as the fifth-largest by market cap, though the list doesn’t include the original memecoin, Dogecoin (DOGE).
