In a world where fortunes are made and lost on a whim as fleeting as a summer breeze, a notable event has unfolded. Canary Capital, in its infinite wisdom-or perhaps foolishness-has taken a step, no more substantial than a shadow, towards creating an ETF linked to the enigmatic Trump memecoin. This entity, whimsically dubbed the “Canary Trump Coin ETF,” was registered with the Delaware Division of Corporations on August 13. Think of it as laying the groundwork for a castle in the air-write it down, it exists, but no one’s sure if it will stand.
Mark this: such registration is merely a ritual-an early, procedural act-and bears no promise that the SEC, that venerable gatekeeper of all things financial, has given the nod. Still, markets, ever eager to chase after spectacle, reacted swiftly; Trump’s digital darling rebounded from roughly $9.35 to a sprightly $9.55, a gain of over 10% in a week, as if the token had discovered the fountain of youth.
The Circus of Regulation and Fools
Adding to the pandemonium, other financial jesters like Grayscale, Bitwise, and 21Shares have already sought funds tied to Dogecoin, while Osprey Funds and REX Shares played their Trump card earlier this year, filing on January 21. It appears the show is far from over, with Canary possibly eyeing the elusive 33 Act-more adventurous than the usual 40 Act-and thus changing the rules of the game in a manner only true insiders might comprehend.
Apparently, Canary is gearing up to perhaps file under the ’33 Act, rather than the more familiar ’40 Act-more intrigue than a soap opera! They even registered the name as a statutory trust. Meanwhile, Tuttle has his Trump and Melania coin ETFs floating elsewhere, because, why not?
– Eric Balchunas (@EricBalchunas) August 13, 2025
The Significance-Or Lack Thereof-Of This Rigmarole
Registering a company in Delaware is often just a precursor-a formal nod that whispers, “We might do something,” without actually doing anything concrete. It signals intent, like a man flexing muscles before a duel, yet leaves plenty to chance. Approval still depends on the regulators’ mood and whether the custodians, surveillants, and other custodial fairy tales are in place.
For Trump token holders, this latest stunt offers hope-perhaps a regulated vessel that might bring liquidity, or at least make the traders feel like they’re playing in the big leagues. But let’s not pretend the fundamentals have changed. The token remains far from its January peak of $75; it’s a shell of its former self, a digital mirage.
Of course, danger lurks in the shadows-regulators treating memecoins as commodities, wallet concentrations that resemble a game of musical chairs, and the ever-present specter of manipulation. Approval would mean third-party custody, audits, surveillance-things that make a fragile meme a tad less vulnerable, but still a long shot for real stability.
So, fasten your seatbelts-this rollercoaster of modern finance is nowhere close to stopping. The memes may thrive, the coins may jump, but at the end of the day, the game remains an intricate dance of speculation, sarcasm, and just enough hope to keep the carnival going. 🎢🤡💸
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2025-08-16 05:12