Investment Firms File for Trump Coin ETF and Other Crypto Funds
Rex Shares and Osprey Funds filed with the SEC for multiple crypto-focused ETFs, including one linked to the memecoin TRUMP, launched by Donald Trump. Key points include:
- TRUMP coin reached $17 billion in trading volume but fell nearly 25% in 24 hours.
- First Lady Melania Trump launched a token called MELANIA, currently priced around $4; both tokens lack intrinsic value.
- The proposed ETFs aim to provide exposure to digital assets within an ETF structure.
- Other applications include ETFs tracking DOGE, BONK, XRP, and SOL.
- The approval process may take time, reflecting the SEC's cautious approach under previous leadership.
Bloomberg analysts noted the unusual nature of these ETF filings amid changes in the regulatory landscape.