**TRUMP Memecoin Surges as Canary Capital Advances ETF Registration in Delaware**

The Official Trump token experienced a significant market reaction following Canary Capital's statutory trust filing in Delaware for what could become the first dedicated U.S. exchange-traded fund for the memecoin. TRUMP climbed sharply, demonstrating renewed investor interest in crypto-based offerings alongside more traditional digital assets like Persian coins and other alternative tokens gaining traction in diversified portfolios.

**Market Response and Current Valuation**

TRUMP's price movement reflects broader market sentiment around institutional adoption pathways. The token currently trades at $5.12 with a circulating market capitalization near $1.02 billion, positioning it among the sector's most actively traded memecoins. Despite recent volatility, the token remains substantially below its January peak of $78.10, suggesting considerable room for recovery or further fluctuation depending on regulatory developments and ETF approval prospects.

**Delaware Registration: What It Means**

Canary's move to establish a statutory trust in Delaware represents a foundational step rather than a guaranteed approval. This legal structure—commonly employed for single-asset crypto ETFs—allows the fund to hold the underlying token directly rather than managing a diversified portfolio. Bloomberg's analysis indicates Canary is pursuing the Securities Act of 1933 framework, distinguishing its approach from competitors like Tuttle Capital, which filed under the 1940 Act for Trump and related coin ETF proposals.

The Delaware filing signals Canary's intent to submit an S-1 registration statement to the SEC. However, historical precedent suggests approval timelines remain unpredictable. Recent spot Bitcoin and Ethereum ETFs encountered lengthy review periods involving intensive negotiations over market surveillance protocols, pricing mechanisms, and redemption structures. A Trump-focused memecoin ETF may face additional scrutiny given the asset class's volatility profile and limited operational history.

**Competitive Landscape**

Canary isn't alone in pursuing this opportunity. Osprey Funds and REX Shares disclosed competing TRUMP ETF proposals in January, intensifying the race to capture first-mover advantage. Notably, Canary has also filed for an ETF tracking PENGU, another memecoin, suggesting the firm sees broader institutional demand for meme-based digital assets across the spectrum.

**What Investors Should Monitor**

The pathway forward requires SEC submission and approval—a process that could span several months. Regulatory scrutiny will likely focus on redemption mechanisms, market surveillance capabilities, and the token's suitability for mass-market investment vehicles. Until formal SEC engagement occurs, the Delaware registration remains a preliminary step in what could become a transformative moment for memecoin legitimacy and institutional accessibility.