According to @EricBalchunas, Canary has registered the name and entity as a statutory trust under the Securities Act of 1933, which he says indicates preparation to file what could be the first Trump Coin ETF via the '33 Act. According to @EricBalchunas, Tuttle has separate Trump and Melania coin ETFs filed under the Investment Company Act of 1940, signaling competing product approaches. According to SEC rules, '33 Act statutory trusts have been the structure used for spot commodity ETPs like spot BTC ETFs, while '40 Act funds have historically been constrained to futures-based or diversified exposures, affecting custody, leverage and portfolio construction. According to SEC procedures, no approval is implied by these steps and any listing would remain subject to SEC review, so traders should differentiate structure-driven risks such as spot versus futures exposure, tracking behavior and creation/redemption mechanics.

According to @Pentosh1, the Solana-based meme coin Bonk (BONK) surged 9.87% to $0.00001494 on July 2, driven by news surrounding Tuttle Capital's proposed 2x Long BONK ETF. The firm filed a post-effective amendment indicating the ETF could launch no sooner than July 16, pending regulatory approval. This proposal also includes leveraged funds for other assets like SOL, XRP, ADA, and LTC. Technical analysis shows BONK broke through resistance at $0.0000144 on strong volume but later formed a head-and-shoulders pattern, suggesting potential short-term exhaustion. Key support is now identified around $0.0000142. Adding to market dynamics, the BONK developers announced the Saga phone token redemption program will end on July 31, with unclaimed tokens returning to the BONK DAO for ecosystem development.

According to Eric Balchunas, Tuttle Capital's launch of the $EUAD European Defense ETF just one month before the election has resulted in a 60% gain and attracted $900 million in assets in its first year, a significant milestone for a thematic ETF (Source: Eric Balchunas on Twitter, June 16, 2025). This strong performance in the defense sector highlights investor demand for sector-specific plays with geopolitical relevance, which could influence risk sentiment and capital flows in the broader market, including cryptocurrencies, as traders seek diversification and hedge against volatility.