According to reports, Canary Capital has taken a formal step toward an ETF tied to the TRUMP memecoin by registering an entity called the “Canary Trump Coin ETF” with the Delaware Division of Corporations on August 13.
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That registration is an early, procedural move and does not mean the fund has been filed with or approved by the US Securities and Exchange Commission.
Markets reacted quickly; TRUMP rebounded from about $9.35 to $9.55 after the news, marking just over 10% gains for the week at press time.
Regulatory Route And Competing Filings
Based on reports, the registration adds to a growing list of institutional bids to package memecoins. Companies such as Grayscale, Bitwise, and 21Shares have already pursued funds linked to Dogecoin, while Osprey Funds and REX Shares filed for TRUMP-related products earlier in the year on January 21.
Bloomberg’s Eric Balchunas has suggested Canary may be positioning for a filing under the 33 Act, which would differ from other teams that have used the 40 Act. That choice could change the form of filings and the timeline for review.
Looks Canary is prepping to poss file for first Trump Coin ETF via the ’33 Act. They registered the name an entity as statutory trust (33 act). Tuttle has Trump (and Melania) coin ETFs filed but via ’40 Act.. h/t source: @Cointelegraph pic.twitter.com/crz2ZApHkE
— Eric Balchunas (@EricBalchunas) August 13, 2025
What Registration Means And Why It Matters
An entity registration in Delaware is a common legal step before formal SEC submissions like S-1s or 19b-4s. It signals intent and lets market participants spot plans early.
It does not mean the SEC has weighed in, and approval would still hinge on custody, market surveillance, and other protections regulators demand.
The filing has given TRUMP token holders reason for optimism because a regulated vehicle could bring new liquidity, but it would not change the token’s fundamentals.
Momentum And Market Moves
Reports have disclosed that the TRUMP token saw a price uptick after the registration announcement. That reaction is typical: headlines attract retail attention, and memecoins are highly sensitive to news flow.
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Still, TRUMP remains far below its January peak of $75 — about 60% below that high — and any fund launch would only channel speculation into a regulated wrapper, not create earnings or cash flows for the token itself.
There are risks to watch. Memecoins are commonly treated as commodities by regulators, which helps the case for ETF structures, but concentration in a few wallets, unclear custody arrangements, and the potential for market manipulation are real concerns.
Approval would likely require third-party custody, audits, and exchange surveillance plans that make the product less fragile than an unregulated token listing.
Featured image from Getty Images, chart from TradingView
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