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The $TRUMP meme coin has been divisive since its inception. For President Trump's critics, the coin is nothing more than a self-serving, money laundering-enabling Ponzi scheme. On the other hand, the President's supporters view the meme coin as an avenue for bringing together like-minded traders and investors to foster a community premised on Trump's star power.
Of course, Wall Street has never been shy of jumping on the latest fad. And, the $TRUMP meme coin is no exception to this age-old tradition.
As an illustration of Wall Street's penchant for leveraging the reigning flavor of the season to mint money, consider the fact that the $TRUMP meme coin is about to get its third ETF, this time courtesy of Canary Capital, whose aptly named Canary Trump Coin ETF is likely to be the first spot ETF for the meme coin, subject to the SEC's approval of course.
Canary Capital has also applied for the Canary American-Made Crypto ETF (MRCA), which would track cryptocurrencies linked to US-based creation, mining, or operations.
At its launch back in January 2025, 100 million $TRUMP coins were put up for sale to the public, while another 100 million coins were used to fund a liquidity pool. Over the next three years, however, the coin's total supply will grow to 1 billion tokens.
As of the time of writing, 682.34 million $TRUMP coins remain locked, with this unreleased supply currently being custodied by an affiliate of the Trump Organization, CIC Digital LLC, in conjunction with a Delaware-based company, Fight Fight Fight LLC. As such, these two Trump-linked entities derive transactional revenues from the sale and purchase of $TRUMP coins.
The $TRUMP meme coin currently has a market cap of just over $1.6 billion and a fully diluted value of $8.3 billion.
The meme coin became a subject of controversy back in May when President Trump hosted an expansive meet-and-greet plans for the 220 top holders of the $TRUMP coin, attracting interest from foreign entities, including a little-known Chinese company that boasted of $0 in revenue and just 8 employees, yet managed to raise the capital to acquire 300 million $TRUMP coins.
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