Rex Osprey has submitted ETF filings for seven cryptocurrencies, including $XRP, $TRUMP, $BONK, and $DOGE, with the SEC.
Surreal ETF Filings: Three Memecoins, Four Ecosystems
Despite being a new player in the cryptocurrency ETF market, Rex Osprey has an ambitious plan involving seven popular tokens.
According to Bloomberg ETF specialist, Eric Balchunas, each proposed fund aims to allocate at least 80% of its net assets to its designated reference asset, whether through direct holdings or derivatives like futures and swaps.
The recently launched TRUMP token is perhaps the one attracting the most attention. The official filing indicates that the fund’s investment will be made through a subsidiary called REX-Osprey TRUMP Subsidiary.
Potentially, the exposure to TRUMP may expand through futures contracts and swap agreements.
Besides, TRUMP, XRP, DOGE, and BONK point toward a significant expansion of the crypto ETF landscape. This would enable investors to get exposure to a wider range of digital assets through regulated investment vehicles.
What This Could Mean for Crypto
The approval of these ETFs would provide easier access to a range of digital assets for retail and institutional investors. The knock-on effect could drive up demand and prices for the underlying cryptocurrencies.
However, their approval is far from guaranteed despite Gary Gensler’s departure from the SEC and Donald Trump’s return to the White House.
This is because the SEC has traditionally approached novel crypto funds cautiously to ensure investor protection and market surveillance even with a pro-crypto leadership team.
Considering that the filings include memecoins like TRUMP and BONK, there may be additional concerns about market manipulation and investor risk.
Furthermore, memecoins may drive the SEC to impose stringent requirements aimed at protecting investors from potential losses.
As we move further into 2025 under Trump’s administration, the possibility of increased regulatory clarity presents an exciting opportunity for both investors and innovators within the crypto space.
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