REXShares and Ospreys Funds File for Seven Spot Crypto ETFs
REXShares and Ospreys Funds have filed for multiple crypto spot ETFs, including those for Bitcoin, Ether, TRUMP, Solana, XRP, BONK, and DOGE. The filing indicates that at least 80% of the funds will invest in designated crypto assets through swap agreements, futures contracts, or direct holdings.
Key points:
- The filings occurred shortly after Donald Trump's inauguration as pro-crypto US President and Gary Gensler's resignation from the SEC.
- Investor interest has surged due to the inclusion of memecoins, particularly the new TRUMP memecoin.
- The potential approval of these ETFs is enhanced by Paul Atkins' nomination as the new SEC Chair and a lighter regulatory approach promised by the Trump administration.
Market Impact
The proposed ETFs could significantly influence market prices, especially if approved by the SEC. Key market reactions include:
- BONK price increased over 15%, trading at approximately $0.0000353.
- Dogecoin rose over 6%, trading around $0.38.
- The memecoin market cap grew over 5%, reaching about $121 billion with a trading volume of $38 billion.
- XRP gained over 2%, trading at about $3.23, signaling bullish potential towards $4.
These developments may trigger a new phase in the anticipated altseason.