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.
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.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand.
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