REX Shares, an exchange-traded merchandise supplier, has filed for a number of exchange-traded funds, together with listings for TRUMP and Dogecoin ETFs.
The asset supervisor submitted the ETF filings with the U.S. Securities and Alternate Fee on Jan. 21, simply in the future after former SEC Chair Gary Gensler stepped down from the company.
Nonetheless, it’s not simply Official Trump (TRUMP) and Dogecoin (DOGE) ETFs that REX Shares is pursuing. The asset supervisor has partnered with funding merchandise agency Osprey to file for crypto funds tied to Bitcoin, Ethereum, XRP, Bonk, and Solana.
Eric Balchunas, a senior ETF analyst at Bloomberg, described the event as “surreal” in a publish on X. In accordance with the prospectus, the proposed funds purpose to allocate a minimum of 80% of their internet property to those merchandise, together with the lately launched TRUMP meme coin.
For the TRUMP ETF, REX Shares famous that the fund will observe the meme coin’s worth. This might be achieved both via direct funding in TRUMP or through the REX-Osprey TRUMP Subsidiary. Particularly, the fund will search publicity by holding TRUMP tokens or via derivatives and swap contracts.
Beneath Gensler’s management, the SEC accepted a number of spot Bitcoin and Ethereum ETFs in 2024, with these merchandise experiencing huge demand via issuers resembling BlackRock, Constancy, Bitwise, and Ark/21Shares.
Along with TRUMP and Dogecoin, a number of asset managers and ETP issuers have filed for exchange-traded funds tied to XRP, Solana, and Litecoin. The submitting for approval to checklist a TRUMP ETF comes simply days after U.S. President Donald Trump launched the meme coin forward of his inauguration.
At its peak, the TRUMP token surged to a market cap of over $15 billion, with the coin’s worth reaching highs of $75. Nonetheless, the token has since dropped to round $38, with its market cap falling to $7.7 billion.
