REX Shares have filed for a slew of crypto trade traded funds (ETFs) together with the primary funds for the just lately launched TRUMP meme coin, in addition to BONK and Dogecoin. The submitting additionally seeks to create funds for Bitcoin, Ethereum, Solana, and XRP.
The Miami, Florida primarily based agency provides a variety of trade traded merchandise, together with plenty of crypto providers by its sister firm Osprey Funds. These crypto merchandise embody leveraged funds for Bitcoin, Ethereum, and MicroStrategy. REX claims to have over $8 billion belongings underneath administration.
The Tuesday filings are actually the agency's first meme coin submitting and, if authorized, would change into the primary meme coin ETFs within the U.S.. This comes only a day after Gary Gensler parted methods with the SEC and pro-crypto Mark Uyeda took momentary lead of the regulator.
It was solely January 2024 when the primary spot Bitcoin ETF was authorized within the U.S., with Ethereum ETFs later authorized in Might. Since then, requests for Solana and XRP ETFs have been filed which gained some momentum however in the end had been by no means authorized.
Nonetheless, it seems that with Donald Trump formally changing into the forty seventh President of the US, the crypto trade has grown extra hopeful of ETF approvals. As such, the primary meme coin filings have rolled in.
“With the new Administration, there's further opportunity for financial instruments to receive clarity around filings and steps forward,” pseudonymous Core Contributor for Bonk, Nom, advised Decrypt. “This is the correct time to push for the opportunity to bring BONK to traditional investment firms, and make it easier for investors who are not able to engage with assets on-chain.”
Edited by Stacy Elliott.
