Trump’s Near-Death Experience Sparked This Crypto ETF Bonanza 🚀

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Quick Hits:

  • Canary Capital was like, “ETFs? Never heard of ’em,” until Trump’s near-assassination.
  • Now they’re rolling out crypto ETFs like they’re going out of style (spoiler: they’re not).
  • Tracking Solana, XRP, Litecoin, and Hedera because someone’s gotta keep tabs on these shenanigans.

Canary Capital was a twinkle in its founder’s eye when spot bitcoin ETFs were all the rage.

But they’ve crash-landed into the ETF biz faster than you can say “crypto hustle.”

Launched in October, Canary’s already applied for more crypto ETFs than there are coins in your pocket. Including the first ever for LTC and HBAR. Nbd.

Seems like they had a crystal ball, right? Wrong. They were just winging it.

“We had no clue we’d be back in the ETF game,” said Steve McClurg, CEO and resident ETF whisperer.

McClurg’s name might ring a bell. He’s the guy who co-founded Valkyrie Investments before jumping ship to CoinShares.

After a six-month vacay at CoinShares, McClurg was like, “Nah, I’m out,” and started Canary Capital. Because why not?

“Trump almost died, markets flipped, and we were like, ‘He could win this thing.’ If he does, crypto ETFs might get a nod,” McClurg reminisced.

They passed on bitcoin and ethereum because, well, everyone’s doing it. Instead, they went for the underdogs: LTC, HBAR, and XRP. And that XRP move? It paid off like a slot machine.

But the SEC’s playing hard to get. Several Solana ETF filings were ghosted last year.

Post-Trump-inauguration, Cboe BZX Exchange is like, “Let’s try this again,” and resubmitted their SOL papers. Fingers crossed, SEC has to respond. Eventually.

Canary’s also submitted a 19b-4 for its Litecoin ETF. SEC’s got till Feb 29 to say something. No pressure.

As for XRP and HBAR ETFs, they’re still in the “let’s wait and see” phase. Because planning? Overrated.

McClurg calls Canary’s ETF spree a “bet on Trump.” And guess what? It wasn’t the worst idea ever.

Future plans? Canary’s playing it cool for now, but you never know when they’ll strike again.

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2025-01-29 21:55