TLDR
- The Trump Coin ETF has been listed on the DTCC platform under the symbol TRPC.
- Canary Capital Group filed the registration for the ETF in August under the Securities Act of 1933.
- The fund aims to offer full exposure to the TRUMP token without using offshore entities or Treasury assets.
- The DTCC listing confirms technical readiness but does not mean the ETF has been approved by the SEC.
- Experts say the lack of a futures market for the TRUMP token may delay SEC approval.
A new crypto fund linked to Donald Trump’s meme coin has quietly landed on the DTCC’s listing system. The Trump Coin ETF, backed by Canary Capital Group, registered under the ticker symbol TRPC. This move marks a preliminary step toward potential public trading, though no final approval has been granted.
DTCC Listing Signals Technical Readiness for Trump Coin ETF
The DTCC listing confirms the Trump Coin ETF is technically prepared for clearing and settlement on U.S. exchanges. However, it does not mean the Securities and Exchange Commission (SEC) has approved the fund. According to experts, DTCC entries often precede formal launches but do not carry regulatory guarantees.
I don't know how this gets through tho bc you need to have futures for at least 6mo on an exchange. That doesn't exist as far as I can see. Alt, I could see it in a 40 Act product.
— Eric Balchunas (@EricBalchunas) August 26, 2025
Canary Capital Group submitted its fund registration in August under the Securities Act of 1933. The Trump Coin ETF seeks full exposure to the TRUMP token, avoiding complex fund structures seen in past crypto filings. Unlike 1940 Act filings, this approach omits indirect holdings and excludes U.S. Treasury components.
This structure provides investors with direct access to the coin’s price volatility. Yet, it may pose regulatory concerns due to its high-risk profile. Market participants continue to assess the SEC’s likely stance on such single-asset crypto funds.
Lack of Futures Market Could Stall SEC Approval
Analysts note that the Trump Coin ETF faces a significant barrier without an active futures market. Bloomberg ETF expert Eric Balchunas explained that the SEC prefers a six-month trading history for futures before approving spot trading. “There are no futures on this token, and that matters a lot,” Balchunas said.
This absence places the Trump Coin ETF in a regulatory gray zone. The SEC has previously rejected spot ETFs citing similar grounds. Some industry voices believe the TRUMP token could feature in a diversified fund filed under the 1940 Act instead.
Such a strategy might improve its approval odds while limiting exposure to extreme volatility. Still, Canary Capital appears committed to pursuing a standalone spot offering. The filing awaits formal SEC review, with no timeline disclosed.
Market Conditions Remain Unfavorable for Trump Coin ETF
The TRUMP token’s value has declined over 90% from its $75 peak in January. It recently traded around $8, with a further 10% slide over the past month. Market sentiment remains weak, despite growing interest in the Trump Coin ETF.
The token’s issuer, Fight Fight Fight LLC, is exploring rescue strategies. Led by Trump ally Bill Zanker, the firm aims to raise $200 million to $1 billion. Its goal is to build a token treasury to support the coin’s price.
However, this funding plan remains in early talks with no firm commitments. Whether the Trump Coin ETF launches may depend on the success of these parallel efforts. The market continues watching both the SEC’s decision and the token’s recovery path.
