Investment Firm Wants to Create a Trump Memecoin Stock Fund

An investment company named Canary Capital wants to create a new stock market fund (called an ETF) that follows the price of a Donald Trump-themed internet cryptocurrency, known as a “memecoin.”

The goal is to let people invest in the $TRUMP coin through their regular stock brokerage accounts, making it easier than buying it directly. Several other companies are trying to create similar funds.

This comes after Donald and Melania Trump each released their own memecoins earlier this year, which some critics called a conflict of interest. Financial regulators are now reviewing a growing number of proposals for crypto-related funds.