Analyst Eric Balchunas says exchange-traded funds must have a futures product live for at least six months, which Canary doesn’t have for its TRUMP fund.
President Donald Trump’s memecoin could be getting an exchange-traded fund (ETF) in the US after Canary Capital was first to file for a product that buys and holds the token, with an analyst questioning how it will clear regulatory hurdles.
In a filing with the Securities and Exchange Commission on Tuesday, Canary said its fund, the Canary Trump Coin ETF, would directly hold and offer exposure to Official Trump (TRUMP).
Trump launched the token in January, just days before he re-entered the White House. It’s currently ranked 55th by market value, having fallen 69% from its Jan. 19 all-time high of $46.50, the day before Trump’s inauguration, according to TradingView.
