Canary Capital files for Trump Coin ETF in Delaware

Canary Capital Files for Cryptocurrency ETF Linked to Trump

Canary Capital has officially registered a Cryptocurrency Exchange Trade Fund (ETF) aimed at tracking memo coin tokens associated with former President Donald Trump.

According to a listing on the Delaware State Department’s website, the Canary Trump Coin ETF was filed on Wednesday. This registration indicates that a crypto ETF focused on official Trump tokens might be in the works, though a formal submission to the Securities and Exchange Commission (SEC) might still take a few months.

The Cointelegraph Indexes report that Trump tokens currently boast a market cap of $1.9 billion, placing them 49th among all cryptocurrencies. In the realm of memo coins, they rank as the fifth largest, not counting the original memo coin, Dogecoin.

Following this move by Canary Capital, Osprey Funds has also sought SEC approval to create an ETF tracking Trump Memecoin, with their filing made on January 21, shortly after the token’s debut.

Dmitrij Radin, the founder of Zekret and the CTO of Fidium, shared insights with Cointelegraph back in January, suggesting that the current SEC, which is seen as more crypto-friendly, may be more inclined to approve these types of ETFs. He described it as a “bold move” that could enhance liquidity and bring mainstream acceptance to memo coins.

Dogecoin Paves the Way for Memo Coin ETFs

Dogecoin, initially created as a joke in 2013, has become the leading figure in exchange financing within the meme coin sector. Currently, there are at least three pending Dogecoin ETF filings awaiting SEC review: one from Grayscale, another from Bitise, and a third from Rex-Osprey.

Recently, Bitise updated its filing to enable investors to convert ETF shares into underlying assets without having to withdraw cash first. This alteration is designed to minimize tax burdens, making ETFs more appealing to institutional investors.

Aside from Dogecoin, there was also an ETF filing for Bonk (Bonk) back in January. However, the memo coin trend has seen a decline since spring 2025, following a wave of rug pulls that exposed risks to retail investors.