Key Takeaways:
- Novel ETFs Filed: Osprey Funds and REX Shares filed with the SEC to launch cryptocurrency ETFs, including memecoins like Dogecoin (DOGE), Official Trump (TRUMP), and Bonk (BONK).
- Diverse Exposure: The ETFs also target major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Solana (SOL), and XRP, aiming for direct market exposure.
- First TRUMP ETF: The proposed TRUMP ETF would be the first to offer exposure to the TRUMP memecoin, tied to former U.S. President Donald Trump.
U.S. asset managers Osprey Funds and REX Shares have filed with the Securities and Exchange Commission (SEC) to launch cryptocurrency-focused exchange-traded funds (ETFs), including those centered on memecoins like Dogecoin (DOGE), Official Trump (TRUMP), and Bonk (BONK).
The filings, dated January 21, also propose ETFs for major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Solana (SOL), and XRP, offering investors direct exposure to spot assets and related derivatives.
BREAKING: Rex Osprey files $TRUMP, $BONK, and $DOGE ETFs with the SEC.
— Mr. BIG WHALE (@MrBigWhaleREAL) January 21, 2025
Memecoin Super Season. pic.twitter.com/9H81znVyeB
One notable product, the REX-Osprey TRUMP ETF, would be the first to focus on the TRUMP memecoin, which launched on January 18 and is tied to a Trump-affiliated entity.
The funds aim to allocate at least 80% of their assets to the primary cryptocurrency they track, according to the filings.
This initiative reflects increasing interest from asset managers in diversifying cryptocurrency investment offerings, particularly in response to the rising popularity of niche and novelty coins.
The filings underscore a growing demand for innovative financial products catering to a wide spectrum of crypto investors, from traditional to speculative markets.