Canary within the crypto coal mine: Wall Road checks limits with Trump meme coin ETF

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Crypto fund supervisor Canary Capital has filed to launch Wall Road’s first spot ETF straight tied to President Trump’s meme coin, TRUMP. Not like earlier filings this 12 months that proposed oblique publicity via Cayman subsidiaries and U.S. Treasuries, Canary’s software was made beneath the Securities Act of 1933, making certain full and direct publicity to the token itself.

If accredited, the Canary TRUMP Coin ETF can be backed by a reserve of TRUMP tokens held beneath strict custody guidelines, doubtless in america — a regulatory first for a meme coin ETF.

What may presumably go flawed?

This text was written by Aaron Cutchburt at investinglive.com.

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