Canary Capital’s Trump Coin ETF Moves Closer to Approval
Canary Capital’s Trump Coin ETF has been added to the DTCC clearing list. This is a meaningful step towards its potential approval.
The DTCC updated its clearing list on Oct. 9, under the ticker TRPC. The ETF is now one step closer to launching in the U.S. market.
The DTCC is a major clearing and settlement provider for U.S. securities. It handles post-trade processes for exchange-traded funds. With this addition, the only remaining hurdle is approval from the U.S. Securities and Exchange Commission.
Several altcoin-linked etfs have been added to the DTCC’s eligible securities list. These include products tied to Solana, XRP, Polkadot, Hedera, and Sui. However, progress has stalled due to the ongoing U.S. government shutdown.
Canary Capital filed its S-1 registration for a spot ETF tracking the Official Trump meme coin in late August. the coin has been endorsed by the Trump family and promoted by President Donald Trump. Despite bullish developments, investor interest remains low.
Today, the TRUMP token briefly rallied to $7.85 but cooled off to $7.80.It gained 3% in the past 24 hours but lacked momentum.The token remains 90% below its all-time high of $73.43.Market uncertainty and competition from new meme tokens are the main reasons for this.
