A newly proposed crypto exchange-traded fund tied to Donald Trump’s meme coin has quietly appeared on the DTCC platform under the symbol TRPC.
The listing, secured by Canary Capital Group, marks an early step toward possible launch. According to industry experts, DTCC listings are routine groundwork for ETFs preparing for market entry.
They confirm technical readiness for trading and settlement, but do not guarantee authorization from the U.S. SEC.
Fund Centers on Solana-Based TRUMP Token
Notably, Canary Capital submitted its registration to the SEC in August to create a fund fully supported by TRUMP tokens, a Solana blockchain asset inspired by the U.S. president. The application falls under the Securities Act of 1933.
This structure contrasts with earlier crypto-ETF filings made under the Investment Company Act of 1940. In those filings, issuers sought to hold crypto assets indirectly through offshore entities or combine them with U.S. Treasury holdings.
By comparison, Canary’s approach eliminates that buffer, giving investors pure exposure to the TRUMP coin’s volatility.
Analysts Cautious About Prospects
Nevertheless, market watchers remain skeptical that the fund will pass the SEC’s scrutiny anytime soon.
For instance, Bloomberg ETF specialist Eric Balchunas noted that the commission usually expects a futures market for an asset to exist for at least six months before considering approval of a spot ETF. At present, no futures contracts linked to the TRUMP token are trading on any regulated exchange, leaving the proposal in a gray area.
Balchunas suggested that TRUMP ETFs could instead eventually feature as part of a diversified ETF, filed under the 1940 Act, rather than as a standalone spot fund.
Fundraising Push Amid Token Price Collapse
The ETF development follows a separate effort to rescue the struggling TRUMP token’s market price.
As reported by The Crypto Basic, the Trump coin issuer Fight Fight Fight LLC, under the leadership of Trump supporter Bill Zanker, intends to secure between $200 million and $1 billion in funding. The group plans to build a digital asset treasury to repurchase tokens and support the asset’s value.
However, the initiative remains in early negotiation stages and may not reach its full funding target.
TRUMP Token Faces Steep Price Decline
The TRUMP token, which peaked at around $75 in January, has seen its value plummet by roughly 90%, trading near $8 at the time of reporting.
Moreover, the token has continued to slide in recent weeks, falling more than 10% over the past month.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Bitcoin 
Ethereum 
Tether 
BNB 
XRP 
Solana 
USDC 
Lido Staked Ether 
Dogecoin 
TRON 