Canary Capital files first S-1 application for TRUMP memecoin ETF under 1933 Act

Canary Capital filed the first S-1 registration statement for a TRUMP memecoin exchange-traded fund (ETF) with the SEC on Aug. 26.

The “Canary Trump Coin ETF” filing marks a departure from earlier mutual fund approaches, utilizing Form S-1 under the 1933 Securities Act rather than the N-1A investment company registration form used by competitors Tuttle Capital and Rex Osprey.

Form S-1 registration statements enable corporations to register ETFs that track the spot prices of underlying assets, whereas N-1A forms apply to investment companies establishing mutual funds.

The distinction positions Canary’s product as a traditional ETF structure rather than an investment company vehicle. The corporate registration framework enables traditional ETF mechanics while ensuring regulatory compliance with established securities laws.

Rex Osprey filed initial N-1A statements for a TRUMP ETF in January, followed by Tuttle Capital’s proposals for leveraged funds featuring multiple memecoins, including TRUMP and MELANIA tokens. Tuttle amended its applications in July, targeting a potential launch date on July 16.

Latest ETF move

Canary incorporated the “Canary Trump Coin ETF” entity in Delaware on Aug. 13, according to state records, signaling preparation for the formal SEC filing two weeks later.

The Delaware incorporation typically precedes the launch of ETFs, demonstrating institutional commitment to the product structure.