Canary’s Trump Coin ETF: A Delusional Gamble? 🐦💸

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In a world where logic takes a backseat to chaos, President Donald Trump’s memecoin, TRUMP, now dances on the edge of an ETF debut. Canary Capital, with the audacity of a man betting his hat on a horse named “Sure Thing,” filed paperwork to create an ETF that buys and holds the token. An analyst, perhaps sipping tea with one eyebrow raised, questioned how this circus act might survive the SEC’s scrutiny.

The filing, submitted with the urgency of a man late to his own funeral, claims the Canary Trump Coin ETF will hold TRUMP, a token launched by Trump in January-a month before his presidential renaissance. According to TradingView, the coin’s value, like a politician’s promise, evaporated with the enthusiasm of a summer breeze, plummeting 69% from its $46.50 peak. Now ranked 55th by market cap, it’s a digital monument to misplaced hope. 🐦📉

The token, a masterclass in controversy, invites whispers of anonymous influence-peddling and conflicts of interest. After all, who better to dictate crypto policy than a man who once called the internet a “digital frontier”? 🤷♂️

Analyst Questions If ETF “Gets Through”

Canary, with the optimism of a gambler at a roulette table, must now submit more paperwork. The SEC’s approval process, a bureaucratic ballet lasting nearly a year, looms like a storm cloud. Bloomberg’s Eric Balchunas, on X, quipped that the ETF’s chances are as slim as a vegan at a steakhouse: “No futures product exists, as far as I can see.” But oh, there’s always the “40 Act” loophole-a regulatory backdoor REX Shares used for its Solana ETF. 🚪

Meanwhile, REX has filed its own TRUMP ETF, a scheme involving offshore companies and the audacity to call it “a regulatory end-around.” Nate Geraci, president of ETF Store, called it “a regulatory end-around.” One can only imagine the legal jargon required to make this sound respectable.

REX Boss Warns ETF Issuers of “Pretty Sketchy” Cryptos

Canary’s filing, with the subtlety of a sledgehammer, warns investors: “This is for those who enjoy risk like a masochist enjoys a cold shower.” The token’s speculative nature, they admit, is a “gamble,” because nothing says “safe investment” like a man who once claimed he’d “won the election” before it happened. 🎲

Greg King of REX Financial, with the wisdom of a man who’s seen too many crypto ponzi schemes, warned ETF issuers to avoid cryptos “below the top 20.” A fair point, unless your name is Trump and your coin is a meme. 🐦💥

Canary Capital, ever the optimist, filed its legal entity for the TRUMP ETF in Delaware on August 14. One can only hope the paperwork was as solid as Trump’s hair-or perhaps that’s the joke. 🧔♂️

Canary’s Trump Coin ETF: A Delusional Gamble? 🐦💸

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2025-08-27 06:19