Trump Coin ETF Approval a Matter of Time... Canary Capital Submits Amended ETF Filing

▲ Donald Trump, TRUMP Coin, ETF/ChatGPT-generated image

Asset manager Canary Capital has submitted an amended securities registration statement containing detailed information for the launch of a spot TRUMP coin ETF, creating momentum for new liquidity inflows into the politically symbolic memecoin market.

According to cryptocurrency media outlet CoinGape on February 14 (local time), Canary Capital filed an amended S-1 registration statement ahead of the launch of its TRUMP coin spot ETF (Exchange Traded Fund), supplementing key details including its custodian. Eric Balchunas, ETF analyst at Bloomberg Intelligence, said on X (formerly Twitter) that Canary Capital updated specific information for potential approval and launch, including naming BitGo as the asset custodian. Following news of the amended filing, the value of TRUMP coin rose about 5% in the market, reflecting an immediate reaction.

Canary Capital first applied for approval of a spot ETF in August 2025 to halt the decline in TRUMP coin’s price and revive market interest. In October last year, it completed listing with the Depository Trust & Clearing Corporation (DTCC), taking step-by-step preliminary measures toward entering the institutional financial system. Experts predict that if the spot ETF is approved, it could serve as a catalyst for injecting substantial liquidity into the TRUMP coin market, which has contracted after losing more than 95% of its value from its peak. In particular, it would open a path for retail investors to easily invest in politically themed assets without navigating the complex procedures of directly holding virtual assets.

The U.S. memecoin spot ETF market is seeing intensifying competition as major asset managers join the fray. After Grayscale launched the first U.S. spot Dogecoin (DOGE) ETF in November last year, major firms such as Bitwise and 21Shares have successively rolled out related products, expanding the market. However, the fact that the Dogecoin spot ETF has attracted only about $6.67 million in inflows since its launch highlights market concerns that Canary Capital will need to address.

Truth Social, founded by U.S. President Donald Trump, is also accelerating its push into the crypto ETF business, seeking to combine politics and finance. Truth Social has already applied for approval of spot Bitcoin (BTC) and Ethereum (ETH) ETFs and plans to use Crypto.com as its asset custodian and liquidity provider if approved. These moves reflect a strong determination for Trump-themed assets to evolve beyond simple online memes into fully fledged institutional financial products.

However, President Trump’s close ties with the cryptocurrency industry have emerged as a key issue in the passage of the U.S. crypto market structure bill (CLARITY) currently under discussion in the Senate. Despite political debate for and against the measure, the ETF initiatives by Canary Capital and Truth Social are viewed as an inevitable trend in the process of virtual assets becoming a core pillar of mainstream financial markets. The market is closely watching whether Canary Capital’s amended filing will lead to actual approval and bring meaningful capital inflows into the TRUMP coin and broader memecoin ecosystem.

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