Solana News Today: Trump Meme Coin ETF Takes Step Toward Market Amid Regulatory Uncertainty

The Depository Trust & Clearing Corporation (DTCC) has added the Canary Trump Coin ETF (ticker: TRPC) to its platform, marking a procedural step toward potential market listing for the fund. The ETF, which tracks a Solana-based meme token inspired by former U.S. President Donald Trump, was registered in the DTCC system on October 9, 2025 (UTC+8), following Canary Capital's submission of an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) in August 2025Canary Capital's Trump Coin ETF Nears Listing | Phemex News^[1]. The DTCC listing confirms the fund's inclusion in infrastructure preparations for trading, clearing, and settlement, though it does not guarantee regulatory approvalTrump Coin ETF Gets DTCC Listing Under Ticker TRPC^[6].

The Trump Coin ETF is structured as a spot crypto fund, aiming to provide institutional exposure to the volatile meme token. Canary Capital formally registered the fund's entity in Delaware on August 13, 2025, positioning it as a potential first U.S. ETF tied to a sitting president's cryptocurrency projectCanary Capital Registers Trump Coin ETF Sparking Market Surge^[4]. The underlying token, TRUMP, has seen a surge in liquidity, with a 58% rise in trading volume within 24 hours of the registration announcement and a current market cap of $1.9 billionCanary Capital Registers Trump Coin ETF Sparking Market Surge^[4]. Analysts note that while the DTCC listing signals operational readiness, the SEC's final approval remains critical for the ETF's launchFidelity and Canary Crypto ETFs Reach DTCC Pre-Launch Stage^[3].

The DTCC process for ETFs involves automating the creation and redemption of shares through its National Securities Clearing Corporation (NSCC) system. This includes reviewing portfolio constituents, enabling customized portfolios for ineligible securities, and facilitating shortened settlement cyclesExchange Traded Fund (ETF) Processing | DTCC^[2]. For the Trump Coin ETF, the DTCC listing aligns with broader institutional efforts to integrate meme coins into traditional finance, a trend exemplified by earlier Solana and XRP ETF proposals from firms like Fidelity and CanaryFidelity and Canary Crypto ETFs Reach DTCC Pre-Launch Stage^[3].

Regulatory scrutiny remains a key hurdle. The SEC has delayed decisions on altcoin ETFs, including Solana and XRP, until October 2025Fidelity and Canary Crypto ETFs Reach DTCC Pre-Launch Stage^[3]. Unlike Bitcoin and Ethereum ETFs, which gained approval in early 2024, altcoin products face heightened scrutiny over market liquidity, custody risks, and manipulation concernsWhich New Cryptocurrency ETFs Are Actually Worth Buying?^[5]. The Trump Coin ETF's prospects may benefit from the SEC's recent reclassification of meme coins as non-securities, reducing direct oversightTrump Coin ETF Gets DTCC Listing Under Ticker TRPC^[6]. However, the absence of regulated futures markets for TRUMP-typically a prerequisite for spot ETF approval-raises uncertaintyTrump Coin ETF Gets DTCC Listing Under Ticker TRPC^[6].

Market participants remain divided. Bloomberg analysts estimate a 95% approval probability for Solana and XRP ETFs, while the Trump Coin's chances are unquantifiedFidelity and Canary Crypto ETFs Reach DTCC Pre-Launch Stage^[3]. Eric Balchunas, a senior ETF analyst, emphasized that DTCC listings often precede successful launches but cautioned that "how many tickers are added that never launched, probably almost none"Fidelity and Canary Crypto ETFs Reach DTCC Pre-Launch Stage^[3]. The Trump Coin ETF's unique political theme and meme token underpinning differentiate it from conventional crypto funds, though its success will depend on investor appetite for speculative assetsTrump Coin ETF Gets DTCC Listing Under Ticker TRPC^[6].