Asset Managers File for TRUMP and DOGE ETFs
Asset managers Osprey Funds and REX Shares have filed to launch exchange-traded funds (ETFs) for memecoins such as Dogecoin, Official Trump (TRUMP), and Bonk, according to a regulatory filing dated Jan. 21.
The filing also outlines plans for ETFs focused on Bitcoin, Ethereum, Solana, and XRP, which would directly hold spot cryptocurrencies and related financial derivatives.
“The Fund, under normal market conditions, invests at least 80% of its net assets (plus any borrowings for investment purposes) in the Reference Asset and other assets that provide exposure to the Reference Asset,” the filing states.
The REX-Osprey TRUMP ETF would mark the first ETF to include TRUMP, a memecoin endorsed by US President Donald Trump, which was issued on Jan. 18 by a Trump-affiliated entity.
Trump’s token briefly reached a fully-diluted value (FDV) of $80 billion within 24 hours of its launch. As of Jan. 21, it trades with an FDV of approximately $42 billion.
The TRUMP launch triggered a surge in investor activity, leading to network congestion on Solana for several days.
Meanwhile, Moonshot, the platform recommended by Trump for purchasing the token, reported over 200,000 new on-chain users since the launch.
US regulators are expected to adopt a more lenient approach to cryptocurrency oversight following Trump’s election victory, during which he vowed to transform the US into the “world’s crypto capital.”
More than a dozen proposed cryptocurrency ETFs are now awaiting regulatory approval.
In 2024, asset managers submitted numerous filings to introduce ETFs holding altcoins like SOL, XRP, and Litecoin.
Additionally, issuers are seeking approval for crypto index ETFs designed to hold diverse collections of digital tokens.
Rex Shares, known for launching other crypto-related ETFs, has previously introduced the T-REX 2X Long MSTR Daily Target ETF (MSTU), offering 2x leveraged exposure to frequent Bitcoin buyer MicroStrategy.
Sources:
https://cointelegraph.com/news/asset-managers-file-trump-doge-etfs
https://www.sec.gov/Archives/edgar/data/1771146/000199937125000494/rexosprey-485apos_012125.htm
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