Trump Coin ETF Listed on DTCC, Awaiting SEC Approval for Trading
Canary Capital's Trump Coin ETF (TRPC) has been listed on the DTCC platform, indicating operational readiness for clearing and settlement. However, SEC approval is still pending, with a decision expected no earlier than early 2026.
- The listing reflects growing institutional interest in meme-coin products, alongside other crypto-themed ETFs like 21Shares’ DOGE ETF.
Market Reaction: Liquidity, Open Interest, and Key Price Levels
- Volumes surged on Binance, Bybit, and OKX, with open interest rising 6% to $350.9 million.
- Analyst notes support at $7.00, with potential breakout above $7.80–$8.00 targeting $10.00, dependent on regulatory progress and treasury accumulation.
- Fight Fight Fight LLC plans to raise $200 million–$1 billion for token treasury to support market liquidity and price stability.
- TRUMP token trades around $7.8–$8, far below its January peak of $75, highlighting ETF appeal for brokerage access and custody controls.
SEC Approval Prospects
- DTCC listing does not equate to SEC approval; robust futures markets may be required before spot product approval.
- Incremental routes such as diversified funds might precede a standalone spot ETF launch.
Key watchpoints:
- Regulatory timeline: Monitoring any updates related to TRPC filings or rule changes.
- Market microstructure: Sustained open-interest growth without excessive leverage indicates healthy demand.
- Treasury actions: Updates on capital raise and buyback initiatives are crucial.
The DTCC listing enhances Trump Coin’s visibility, reducing operational friction. A breakout above $7.80–$8.00 with volume could lead to $10 if regulatory and treasury developments align.