Canary Capital is the latest firm to seek the SEC’s blessing for a memecoin ETF, filing for a product tied to the politically-connotated $TRUMP token.
The proposal, framed as a way to overcome “barriers to entry” for holding the volatile asset, underscores the financial industry’s push to securitize even the most speculative corners of the cryptocurrency market.
This filing follows creations by Tuttle and Osprey Funds and comes after Democratic lawmakers raised ethical concerns over the Trumps’ personal involvement in the memecoin space.
The SEC now faces a critical test: whether to extend the regulatory pathway created for spot Bitcoin ETFs to assets whose primary value is derived from cultural and political sentiment rather than technological utility.
