Trump Coin ETF: A Golden Goose or a Fool’s Errand? 🤑

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Ah, the theater of finance! Behold, as Canary Capital, with a flourish of quills and a wink to the gods of speculation, hath registered a crypto exchange-traded fund (ETF) in the hallowed halls of Delaware. This, dear reader, is no ordinary ETF-it doth track the Official Trump (TRUMP) token, a memecoin so audacious it makes the very stars blush. 🌟

According to the Delaware State Department’s dusty scrolls, Canary Capital filed on a Wednesday, a day as mundane as a clerk’s cough, yet pregnant with the promise of riches untold. Though a formal filing with the Securities and Exchange Commission (SEC) may tarry like a reluctant lover, the stage is set for a spectacle most grand. 🎭

CryptoMoon indexes, those oracles of the digital realm, proclaim that TRUMP boasts a market capitalization of $1.9 billion, a sum so vast it could buy a small country-or at least a very large hat. 🧢 It ranks 49th among cryptocurrencies, a mere fifth among memecoins, though Dogecoin (DOGE), that ancient jest, remains unlisted, perhaps too proud to mingle with newcomers. 🐶

Canary Capital’s move follows the footsteps of Osprey Funds and REX Shares, who, like pilgrims to a shrine, sought the SEC’s blessing for their own TRUMP ETF. Dmitrij Radin, that sage of Zekret and Fidium, declared to CryptoMoon, “It’s a bold move, potentially bringing more liquidity and mainstream acceptance to memecoins.” Bold indeed, like a tightrope walker without a net! 🤡

Dogecoin: The Jester Leading the Parade 🎪

Dogecoin, born of a jest in 2013, hath become the harlequin of memecoins, leading the charge into the realm of ETFs. Three Doge ETFs await the SEC’s judgment: one from Grayscale, another from Bitwise, and a third from REX-Osprey. On June 26, Bitwise amended its filing to include in-kind redemptions, a trick so clever it would make a magician envious. 🪄

Yet, let us not forget the BONK (BONK) ETF, a fleeting star in the memecoin firmament, filed in January. Alas, the memecoin craze hath waned since the spring of 2025, when rug pulls revealed the peril beneath the glitter. 🪣

CoinGecko, that chronicler of digital fortunes, reports the memecoin sector’s market capitalization at over $82 billion. A sum so vast, it could fund a dozen operas-or one very extravagant dinner party. 🍾

And so, dear reader, we stand at the precipice of a new era, where memes become money and money becomes spectacle. Will the Trump Coin ETF be a golden goose or a fool’s errand? Only time, that implacable judge, will tell. ⌛

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2025-08-14 01:04