REX Shares Files for Several Exchange-Traded Funds, Including TRUMP and Dogecoin ETFs

REX Shares, a prominent exchange-traded products provider, has submitted filings for several exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC). The filings, which include listings for TRUMP and Dogecoin ETFs, were made on January 21, just a day after former SEC Chair Gary Gensler stepped down from the agency.

REX Shares Partners with Osprey for Crypto Funds

In addition to the TRUMP and Dogecoin ETFs, REX Shares has partnered with investment products firm Osprey to file for crypto funds tied to Bitcoin, Ethereum, XRP, Bonk, and Solana. According to Eric Balchunas, a senior ETF analyst at Bloomberg, the development is seen as a significant move in the cryptocurrency market.

The proposed funds aim to allocate at least 80% of their net assets to these products, including the recently launched TRUMP meme coin. This allocation will be achieved either through direct investment in the respective cryptocurrencies or via subsidiaries and derivatives.

For the TRUMP ETF, REX Shares noted that the fund will track the meme coin’s price. This will be achieved either through direct investment in TRUMP or via the REX-Osprey TRUMP Subsidiary. Specifically, the fund will seek exposure by holding TRUMP tokens or through derivatives and swap contracts.

SEC’s Recent Approvals and Market Demand

Under Gensler’s leadership, the SEC approved several spot Bitcoin and Ethereum ETFs in 2024, with these products experiencing massive demand through issuers such as BlackRock, Fidelity, Bitwise, and Ark/21Shares. The recent filings for TRUMP, Dogecoin, and other cryptocurrencies are seen as a positive move for the market.

In addition to TRUMP and Dogecoin, multiple asset managers and ETP issuers have filed for exchange-traded funds tied to XRP, Solana, and Litecoin. The filing for approval to list a TRUMP ETF comes just days after U.S. President Donald Trump launched the meme coin ahead of his inauguration.

TRUMP Token Performance

At its peak, the TRUMP token surged to a market cap of over $15 billion, with the coin’s price reaching highs of $75. However, the token has since dropped to around $38, with its market cap falling to $7.7 billion.

For the latest news and updates on cryptocurrencies and exchange-traded funds, visit Global Crypto News.

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