The TRUMP Token ETF could soon become a reality as Canary Capital Group has submitted a formal application to the U.S. Securities and Exchange Commission (SEC) to create a groundbreaking exchange-traded fund based on the politically charged TRUMP Coin.

This proposed spot ETF, officially titled the “Canary TRUMP Coin ETF,” would mark the first of its kind to focus on a political meme cryptocurrency. The Solana-based TRUMP token, intrinsically linked to former President Donald Trump, has been a lightning rod in crypto circles since its debut in early 2025.

Bringing TRUMP Token to Wall Street

If given the green light, the fund would allow retail and institutional investors to gain exposure to the TRUMP coin through conventional brokerage platforms. This removes the need for crypto wallets or self-custodianship and significantly lowers the barrier to entry for new participants in politically-driven crypto projects.

In tandem with the S-1 filed by Canary Capital, a listing exchange must also submit a 19b-4 form to fully initiate the ETF review process. The ETF application represents a bold step for the Brentwood, Tennessee-based firm, aiming to capitalize on the growing appetite for crypto-adjacent investment vehicles, especially following the SEC’s previous approvals of spot ETFs for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

This move comes as the regulatory environment appears more accommodative under the Trump administration, and other meme or community-driven crypto ETFs—like those for Dogecoin (DOGE), Chainlink (LINK), and Cardano (ADA)—have already entered the conversation.

Understanding the Risks and Volatility

Canary’s filing doesn’t pull punches when addressing the extreme risk associated with the TRUMP Coin. It describes memecoins as digital assets “with no intrinsic blockchain utility,” driven instead by cultural relevance, political ideology, and the strength of digital communities.

According to the SEC filing, the TRUMP token’s market valuation is heavily dependent on its ties to President Trump, characterizing it as both a political symbol and a collectible digital item. Initially launched in January 2025, the coin once peaked at over $27 billion in market capitalization but has since corrected to approximately $1.67 billion.

The filing includes clear warnings about the coin’s vulnerability to intense swings in value, uncertain regulatory interpretation, and the risk of total capital loss for investors.

Implications for the Broader Crypto ETF Market

If sanctioned by the SEC, the Canary TRUMP Coin ETF could become a watershed moment for how the financial world regards speculative and memetic tokens. An approval would indicate a significant shift in the SEC’s stance toward ETFs that are grounded in volatile, politically sensitive, and socially fueled cryptocurrencies.

This case could also pave the way for other community-driven digital tokens to find legitimate investment routes into traditional markets, offering a new bridge between online culture, political engagement, and financial technology.

Related: Crypto Empire Becomes New Influence Hub

For deeper insights into how Canary’s ambitions were shaped, check out this related piece: Canary Capital’s ETF Plans Took Shape Thanks to Trump.