TRUMP Coin climbed 5% after Canary Capital released a new update tied to its ETF filing. The filing change revived expectations around a potential launch and pushed fresh attention toward whether an ETF could improve liquidity for the meme coin.
The fund was originally filed in August 2025. Canary Capital, which obtained its DTCC listing in October last year, is now seeking to become the fourth asset manager to bring a U.S. meme coin ETF to market. The proposed product is aimed at conventional investors who want exposure to TRUMP Coin without directly holding the token itself.
Meme coin ETF competition in the U.S. keeps growing
Canary is moving into a category that already has several established names. According to the source material, Grayscale launched the first Dogecoin ETF in November last year, and Bitwise and 21Shares followed after that. If approved, the TRUMP Coin ETF would add another name to the expanding meme coin ETF segment.
That backdrop helps explain the market reaction. A filing update alone was enough to lift the token, at least in the short term. Still, the bigger issue is not just whether the product reaches the market, but whether investors commit capital once it does.
Dogecoin ETF inflows remain the clearest benchmark
Skepticism around the TRUMP Coin ETF is tied to recent precedent. Grayscale’s Dogecoin ETF has brought in only $6.67 million since launch. That figure suggests meme coin ETFs can attract attention without necessarily pulling in large and durable inflows, especially while this class of crypto assets is still widely treated as speculative.
For TRUMP Coin, that leaves a gap between excitement and execution. The filing update boosted price action, but the more important test would come later, through actual subscriptions and whether the fund can maintain investor interest after launch.
Truth Social is also pursuing Bitcoin and Ether ETFs
Outside the TRUMP Coin product, Truth Social has also filed for the Truth Social Bitcoin ETF and the Truth Social Ether ETF, seeking to offer exposure to the two largest cryptocurrencies by market capitalization. Both filings are still awaiting SEC approval.
For the planned funds, Truth Social has partnered with Crypto.com, which is set to act as the digital asset custodian while also providing liquidity and staking services. The arrangement shows that the company’s ETF push extends beyond a single meme coin vehicle and into a broader digital asset product lineup.