Wall Street may soon experience a bit of crypto-chaos, with analysts predicting that the first ever exchange-traded (ETFs), for Dogecoin’s (DOGE) new meme coin and Official Trump’s (TRUMP), could be released as early as this April.
Eric Balchunas, senior ETF analyst at Bloomberg, noted the timeline accelerated after James Seyffart disclosed REX Shares ETF filings in Miami on Tuesday.
REX Shares filed proposals for the DOGE and TRUMP ETFS, along with Bonk (BONK), Bitcoin(BTC), Ethereum(ETH), SolanaSOL (SOL), XRP and XRP.
If they're greenlit, these ETFs could bridge meme coins and traditional finance by giving investors access to internet-born cultural icons through standard brokerage accounts.
Good point on the Doge/Trump ETF filing, these are '40 Act filings and so (theoretically, if they aren't disapproved) could hit the market in early April (75 days after filing) and beat the XRP, Solana, Litecoin ETFs out bc those have to file 19b-4s which have a 240-day clock.… https://t.co/t5ftWo9ZKR
— Eric Balchunas (@EricBalchunas) January 21, 2025
“These are '40 Act filings and so (theoretically, if they aren't disapproved) could hit the market in early April…” Balchunas wrote X.
His reference was to the 1940 Act which regulates assets combined with derivatives. Files filed under the Act are also subject to a simplified review procedure of 75 days.
By leveraging this process, DOGE and TRUMP ETFs could leapfrog other filings—like XRP and Solana ETFs—which require a cumbersome 240-day timeline under 19b-4 filing rules.
“The crypto market survives on the principles of innovation and cultural relevance,” Saravanan Pandian is the CEO of KoinBX. Decrypt. “Dogecoin, with its ever-growing adoption, and the emergence of meme-driven financial instruments, reflect a shift in how the new generation interacts with investments.”
Pandian is excited about the potential of meme coins ETFs. “I agree that a Dogecoin ETF could arrive earlier than expected if the regulatory landscape aligns, and we could see these trends formalized as early as April, sparking new opportunities in the digital asset space.”
Dogecoin is a crypto currency that was created in 2013 as a joke. It has since grown to be a major player on the global stage, thanks to its high liquidity and strong cultural influence.
The coin is endorsed by Elon Musk (DOGE head) and Tesla’s CEO Elon. It has consistently been the most popular meme coin.
As with TRUMP, the meme coin inspired by the sitting U.S. President Donald Trump, has quickly climbed the ranks, currently trading at $43.24—up 21.1% in the last 24 hours, according to Coingecko data.
Canary Capital amended its S-1 filing with the SEC in early August. This has led to renewed interest for Litecoin.
Balchunas, Seyffart and others noted that regulatory updates are usually indicative of these updates. This suggests a movement towards approval.
Meme Coins ETFs Enjoy a Positive Impact from Regulatory Changes
Mark Uyeda, a crypto-friendly Acting Chairman of the U.S. Securities and Exchange Commission after Gary Gensler resigned, is now leading this agency.
Uyeda’s arrival in the crypto world has given hope to the industry that it will be more receptive towards innovative crypto products. This includes the proposed ETFs for meme coins.
Inclusion of TRUMP coin meme in these filings poses a unique regulatory challenge as it raises the question about how SEC will deal with a product linked to the President’s coin meme.
"While Trump memecoin saw a brief dip in prices yesterday, I am positive the Trump ETF will happen soon, owing to his position as the President of the United States of America,” Pandian stated.
Stacy Elliott edited this article.