TRUMP ETF Approval

 

Rex Shares, in partnership with its crypto-centric affiliate Osprey Funds, has filed with the SEC for seven new cryptocurrency-focused exchange-traded funds (ETFs). Among them is a fund intended to hold the recently introduced TRUMP memecoin, as revealed by Bloomberg ETF Analyst James Seyffart.

The filings also include requests for ETFs that would track Dogecoin (DOGE) and Bonk (BONK). According to another Bloomberg analyst, Eric Balchunas, the documents displayed reflect a copy of the SEC’s Form 485APOS.

The TRUMP memecoin, which debuted on Friday, initially soared to a $14.5 billion market capitalization due to widespread speculation, only to experience a 50% drop just before Donald Trump's inauguration. The future approval of an ETF for such a volatile asset remains uncertain, particularly since 80% of its supply is held by entities linked to Trump, as noted on the coin’s official website.