
Osprey Funds and REX Shares have recently filed with the US Securities and Exchange Commission to launch a variety of cryptocurrency exchange-traded funds (ETFs), including those centered on popular memecoins like Dogecoin (DOGE), Official Trump (TRUMP), and Bonk (BONK). The filing, dated January 21, also proposed ETFs for mainstream cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and XRP. These ETFs are designed to hold both spot cryptocurrencies and related financial derivatives.
In a highlight from the filing, the REX-Osprey TRUMP ETF is particularly notable as it seeks to become the first ETF to include TRUMP, a memecoin launched on January 18 by an entity connected to former US President Donald Trump. This coin quickly garnered attention, reaching an $80 billion fully-diluted value (FDV) within a day, although its value later stabilized around $42 billion as of January 21. This surge in investor interest sparked network congestion on Solana, where the token is hosted.
The filings by Osprey and REX come amid expectations of potential regulatory easing in the US regarding cryptocurrency oversight, following Trump’s election victory where he promised to advance the country as a global cryptocurrency hub. As such, a wave of proposed cryptocurrency ETFs, covering a range of altcoins like SOL, XRP, and Litecoin (LTC), await regulatory approval.
Rex Shares has a history of launching crypto-related ETFs, including a fund offering leveraged exposure to MicroStrategy, a notable Bitcoin-investing firm. Industry watchers anticipate increased movement in the regulatory space as asset managers continue to seek opportunities for creating diversified crypto investment options through ETFs.