Trump Coin ETF Don Secure DTCC Listing, SEC Approval Still Dey Wait
Canary Capital Trump Coin ETF don secure DTCC listing under ticker TRPC, na mark important step for post-trade clearing, settlement and custody. Dem file am for August under Securities Act 1933, dis spot ETF go hold TRUMP tokens direct, wey be Solana-based meme coin wey inspired by former President Donald Trump. Dis structure dey different from previous 1940 Act crypto-ETF proposals way dey use offshore entities or U.S. Treasuries for indirect exposure. Even with DTCC listing, SEC approval never clear yet. No regulated futures market dey for TRUMP, wey be common SEC condition for spot funds. Bloomberg ETF specialist Eric Balchunas talk say diversified 1940 Act vehicle fit get more chance. Meanwhile, TRUMP token don drop more than 90% from January peak to around $8, with trading volume down more than 22% in 24 hours. Issuer Fight Fight Fight LLC dey try raise $200 million to $1 billion for buyback treasury. Market interest for dis Trump Coin ETF remain low as dem dey wait for SEC oversight.
Neutral
Di DTCC listing na one bullish technical step, but di lack of SEC approval plus di absence of regulated futures market dey create regulatory risk. Di TRUMP token don sharply drop by 90% with 22% drop for volume mean say investor appetite weak. Short-term, these factors fit limit price gains, so neutral outlook dey appropriate. Long-term, if SEC approve Trump Coin ETF and Fight Fight Fight LLC secure funding for buyback treasury, TRUMP token fit recover, but regulatory and market hurdles still major.