Trump meme coin ETF on tap after SEC filing

Background: Canary Capital has previously filed to launch a number of other ETFs, for assets like litecoin, XRP and solana.

• Official Trump is a meme coin that runs on the Solana blockchain, currently trading at $8.47 each.
• At launch, only 20% of the supply was released to trade, and, to date, 80% of the supply remains in control of the issuer.

Of note: The SEC staff recently wrote that it does not believe that meme coins qualify as securities.

Between the lines: The filing notes that crypto markets remaining (for now) in a regulatory grey area could be a risk for investors.

• "Spot markets on which $TRUMP trades are relatively new and largely unregulated or may not be complying with existing regulations and, therefore, may be more exposed to fraud and security breaches," the filing notes.

This is a developing story.