Canary Capital files amended Official Trump ETF application… TRUMP jumps 5%

The Official Trump (TRUMP) coin rose about 5% on news that its exchange-traded fund (ETF) filing was supplemented. The market reaction appears to have been driven by asset manager Canary Capital adding details to the ETF-related documents.

According to CoinGape, a cryptocurrency-focused media outlet, Canary Capital filed an amended application as it prepares to launch a spot ETF for the memecoin Official Trump (TRUMP). The ETF was first submitted in August last year and was listed with the Depository Trust & Clearing Corporation (DTCC) in October the same year.

TRUMP climbed about 5% immediately after the update to the filing was reported. Market participants interpret the move as reflecting expectations that approval of the ETF could improve liquidity.

TRUMP, however, remains down more than 95% from its peak. If a spot ETF is launched, investors would be able to gain exposure to price movements without holding the coin directly, potentially improving access.

Canary is aiming to launch the fourth spot memecoin ETF in the U.S. Grayscale launched a spot Dogecoin ETF in November last year, followed by similar products from Bitwise and 21Shares.

That said, some assessments suggest inflows into memecoin ETFs have been limited. The Dogecoin ETF has reportedly attracted cumulative inflows of just $6.67 million since launch.

Meanwhile, Truth Social, which is linked to President Trump, is also moving to expand its ETF business. Truth Social has filed to launch a 'Crypto Blue Chip ETF' that includes Bitcoin and Ethereum ETFs. Both products are awaiting approval from the U.S. Securities and Exchange Commission (SEC).

If approved, Crypto.com is expected to provide digital-asset custody, liquidity provision and staking services for the ETF.