President Donald Trump’s Memecoin may get an exchange that has been exchanged by the Fund (ETF) in the US after the Canary Capital first files for a product to buy and hold the token, with an analyst asking how it will remove regulatory barriers.
In a File At the Securities and Exchange Commission on Tuesday, Canary said its funding, the Canary Trump Coin ETF, would directly hold and offer exposure to the official Trump (Trump (Trump).
Trump launched the token in January, just days before he entered the White House again. It is currently ranked on 55th by market value, which dropped 69% from his Jan. 19 All-time high $ 46.50, day before Trump’s inauguration, According to In tradingview.
The token has caused controversy, along with critics who say the token can be used by anyone who does not identify to buy the President’s influence and increase the conflict of interest concerns, as Trump may direct the crypto policy.
Analyst questions if ETF is “experienced”
The Canary should also file additional paperwork before its product may go through the standard SEC approved process, which usually lasts for almost a year.
Bloomberg ETF Analyst Eric Balchunas write On X on Tuesday he was talking about whether “ETF” gets “because ETFs need to have a futures product in an exchange of at least six months.
“That doesn’t exist as much as I see,” Balchunas said, but added that it could exist under the 1940 investment company law, known as the “40 Act” fund.
Unlike other Crypto ETFs where those who gives need to submit a form S-1 and form 19B-4 to register and inform the SEC, a 40 law funds follow the other path of regulation, and the same Rex’s sharing approach to carry its solana (Sol) Staking ETF in the market.
Related: Trump Jr. joins
Rex also filed for an ETF tracking Trump under 40 Act, buying shares at an offshore company holding a token.
ETF Store President Nate Geraci described The approach as “a regulation at the end-around.”
Rex Boss warns those ETF providers of “pretty sketchy” cryptocurrencies
The Canary filing explained that this may not be an appropriate investment for shareholders who are out of position “receive more risk than it may be involved in the exchange-exchanged products that do not hold $ Trump.”
“Distributions are speculations of security,” the filing added.
It follows comments on Monday from Rex Financial CEO Greg King.
Canary Capital has established the legal creature for Trump Coin ETF with Delaware State Department on August 14.
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