Coinspeaker
Jan 21, 2025

REXShares and Ospreys Funds File for Seven Spot Crypto ETFs

2 min

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.