Canary Capital register TRUMP memecoin ETF in Delaware in latest altcoin bet

Canary Capital has registered a Trump Coin ETF in Delaware, a move that signals plans to launch a spot exchange-traded fund (ETF) tracking the memecoin.

The entity, “Canary Trump Coin ETF,” was incorporated on Aug. 13, according to state records.

The registration is typically a precursor to filing an S-1 application with the U.S. Securities and Exchange Commission (SEC) and a corresponding 19b-4 form by a listing exchange.

If filed, the fund would be the third spot ETF tied to a meme coin, following applications for Dogecoin products from other major firms. Canary Capital has also filed for a PENGU ETF, making it one of the few U.S. asset managers to pursue multiple altcoin-based ETFs.

The firm’s strategy is unusual in a market where most crypto ETF efforts have centered on blue-chip digital assets such as Bitcoin (BTC) and Ethereum (ETH), with occasional diversification into large-cap layer-1 tokens like Solana (SOL).

By targeting smaller, high-volatility meme coins, the firm is positioning itself in a niche segment often viewed as speculative and outside the mainstream ETF landscape. The firm’s CEO previously stated that the altcoin ETFs are a bet on undervalued digital assets.

The proposed Trump Coin ETF would give institutional investors direct exposure to the Solana-based TRUMP token, potentially injecting additional liquidity into the market and creating a regulated investment channel for what is otherwise a retail-driven asset.

The SEC has previously stated that meme coins are considered commodities, which could simplify the approval process compared to tokens deemed securities.