Charles Esther
Canary Capital has filed to launch a crypto exchange-traded fund (ETF) tracking a memecoin associated with US President Donald Trump.
The Delaware State Department website confirms that the Canary Trump Coin ETF registration was submitted on Wednesday.
While this suggests the ETF will follow the Official TRUMP token, a formal Securities and Exchange Commission (SEC) filing could still take several months.
TRUMP Token Market Status
According to Cointelegraph indexes, TRUMP currently has a market capitalization of $1.9 billion, ranking it 49th among all cryptocurrencies.
Among memecoins, it is the fifth-largest by market cap, not including Dogecoin (DOGE).
Other Memecoin ETF Filings
Canary Capital’s move follows similar filings by Osprey Funds and REX Shares seeking SEC approval for ETFs tracking the TRUMP memecoin.
These initial filings were submitted in January, shortly after the token’s launch.
Dmitrij Radin, Zekret founder and Fidium CTO, noted that memecoin ETFs have a better chance of approval under the current crypto-friendly SEC administration, potentially increasing liquidity and mainstream adoption of memecoins.
Dogecoin Leads Memecoin ETFs
Dogecoin, created as a joke in 2013, remains the most prominent memecoin in ETFs.
Currently, at least three Doge ETFs are under SEC review from Grayscale, Bitwise, and REX-Osprey.
On June 26, Bitwise amended its Dogecoin ETF filing to allow in-kind redemptions, letting investors convert ETF shares into the underlying asset directly, reducing tax burdens and attracting institutional interest.
BONK and Other Memecoin ETFs
Aside from Dogecoin, a BONK ETF was filed in January 2025.
While memecoins peaked in popularity earlier, many tokens have declined after rug pulls exposed risks to retail investors.
Memecoin Sector Overview
Data from CoinGecko shows that the memecoin market capitalization exceeds $82 billion.
Despite market fluctuations, interest in memecoin ETFs is gradually expanding, driven by institutional filings and growing crypto adoption.
