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#TRUMP According to Cointelegraph, Canary Capital has submitted an application for a Trump Meme coin ETF to the SEC, planning to directly hold and offer investment opportunities in Official Trump (TRUMP). Analysts question whether it can pass regulatory scrutiny.
Trump launched the token before returning to the White House, currently ranked 55th by market capitalization, down 69% from its historical high of $46.50 on January 19. The current trading price is $8.40.
Canary needs to submit additional documents to pass the SEC approval process, which usually takes nearly a year. Analysts point out that the ETF must have at least six months of futures products, but none currently exist.
REX Shares has also applied to track the ETF for Trump, using the 40 Act fund path. The president of REX warned ETF issuers to be cautious in choosing cryptocurrencies, as the market becomes unstable outside the top 20. Canary established a legal entity on August 14. The story anticipates a bottom structure! Waiting for the wind to come!