Trump Coin ETF Application Fuels Meme Coin Rally
Canary Capital has submitted a Trump Coin ETF application to the SEC under the Securities Act of 1933. This is the third proposal for a $TRUMP ETF, following filings by Tuttle Capital and REX Shares. Although the SEC’s criteria—six months of futures trading—make approval unlikely soon, the ETF bid sent $TRUMP prices up 2% and open interest up 3%. The Trump Coin ETF filing underscores growing institutional interest in meme coins and altcoins. Traders eyeing new opportunities can review three leading tokens: Maxi Doge (MAXI), a Dogecoin rival prepped for a 1000x target through aggressive marketing; Snorter Token (SNORT), which powers a Telegram bot for fast limit-order “sniping” and advanced analytics; and Comedian (BAN), a viral, art-inspired meme coin nearing a bullish breakout. With presales raising millions, these altcoins may offer high-reward entry points. However, regulatory hurdles and market volatility mean risks remain.
Bullish
The Trump Coin ETF application from Canary Capital signals increasing institutional interest in meme coins. Historically, ETF filings have boosted market sentiment—e.g., Bitcoin ETF announcements drove surges in BTC prices. The immediate 2% rally in $TRUMP and rising open interest reflect heightened trader demand. Additionally, spotlight on presale altcoins like MAXI, SNORT, and BAN suggests a broader altcoin uptrend. In the short term, this news is likely to drive speculative buying and increased trading volumes in meme coins. In the long term, SEC approval remains uncertain, but the mere possibility could sustain positive momentum and attract new capital to the sector.