Canary Capital has filed for the first-ever TRUMP Coin exchange-traded fund (ETF). Submitted on August 25, 2025, Canary Capital’s S-1 filing marks a watershed moment for both crypto ETFs and the intersection of digital assets with American politics.
The proposed ETF would track the Official TRUMP Coin, a Solana-based token that rose to memecoin stardom following President Donald Trump’s inauguration, and reflect its market price directly within traditional brokerage accounts.
At its January trading peak, TRUMP Coin boasted a market capitalization of nearly $27 billion, although it has since stabilized at around $1.67 billion as of August, currently ranking among the top six meme coins in the crypto space.
The ETF aims for simplicity: investors could buy or sell exposure to TRUMP the same way they would any equity or bitcoin ETF, bypassing the complexities and risks of direct self-custody.
How the TRUMP ETF Will Work
Much like popular spot bitcoin and ether ETFs, the Canary TRUMP Coin one will physically hold the underlying tokens on behalf of investors. Custody is planned via a regulated trust company specializing in cold storage, while the ETF would trade under a soon-to-be-announced ticker and track the token’s real-time market performance.
Details, such as management fees and listing venue, are pending SEC approval, with expectations that the fund will follow established best practices for daily transparency and tax reporting, similar to those of exchange-traded funds.
The fund stands out as the first politically themed crypto ETF in the United States, reflecting a market climate eager for assets that capture both viral attention and financial opportunities.
Canary has recently filed for a Solana ETF and an “American-Made Crypto ETF.” The American-Made Crypto ETF will track digital assets originating from the U.S. and will exclude meme coins. These moves show Canary’s strong effort to attract both retail and institutional interest in innovative crypto products.
Regardless of outcome, Canary Capital’s bold move signals a new era of financial experimentation—one where meme coins like TRUMP can move seamlessly from internet lore to regulated Wall Street investment vehicles.
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