Canary Capital files first S-1 application for TRUMP memecoin ETF under 1933 Act
Canary Capital filed the primary S-1 registration assertion for a TRUMP memecoin exchange-traded fund (ETF) with the SEC on Aug. 26.
The “Canary Trump Coin ETF” submitting marks a departure from earlier mutual fund approaches, using Kind S-1 beneath the 1933 Securities Act relatively than the N-1A funding firm registration type utilized by rivals Tuttle Capital and Rex Osprey.
Kind S-1 registration statements allow firms to register ETFs that observe the spot costs of underlying belongings, whereas N-1A kinds apply to funding corporations establishing mutual funds.
The excellence positions Canary’s product as a conventional ETF construction relatively than an funding firm automobile. The company registration framework allows conventional ETF mechanics whereas making certain regulatory compliance with established securities legal guidelines.
Rex Osprey filed preliminary N-1A statements for a TRUMP ETF in January, adopted by Tuttle Capital’s proposals for leveraged funds that includes a number of memecoins, together with TRUMP and MELANIA tokens. Tuttle amended its functions in July, focusing on a possible launch date on July 16.
Newest ETF transfer
Canary included the “Canary Trump Coin ETF” entity in Delaware on Aug. 13, in response to state information, signaling preparation for the formal SEC submitting two weeks later.
The Delaware incorporation usually precedes the launch of ETFs, demonstrating institutional dedication to the product construction.
The TRUMP coin ETF submitting marks the most recent transfer in Canary Capital’s broader crypto ETF technique.
The agency submitted plans for a Canary American-Made Crypto ETF on Aug. 25, focusing on digital belongings with home ties.
The proposed fund tracks the Made-in-America Blockchain Index, specializing in cryptocurrencies developed within the US, tokens minted domestically, and networks with US-based operations.
CoinGecko estimates that US-origin crypto belongings signify a market worth exceeding $520 billion, together with tasks equivalent to XRP, Solana, Cardano, Chainlink, Stellar, Avalanche, Hedera, and Sui.
The American-Made ETF goals to generate extra revenue via community validation processes, together with staking and transaction verification.
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