REX Shares, a provider of exchange-traded products, has filed for several exchange-traded funds, including listings for the TRUMP and Dogecoin ETFs.
The asset manager submitted the ETF filings to the U.S. Securities and Exchange Commission on Jan. 21, just a day after former SEC Chairman Gary Gensler left the agency.
However, it’s not just the official Trump (TRUMP) and Dogecoin (DOGE) ETFs that REX Shares is looking for. The asset manager has partnered with investment products company Osprey to deposit crypto funds linked to Bitcoin, Ethereum, XRP, Bonk and Solana.
Eric Balchunas, senior ETF analyst at Bloomberg, called the development “surreal” in an article on X. According to the prospectus, the proposed funds aim to allocate at least 80% of their net assets to these products, including the recently spear. TRUMP coin.
For the TRUMP ETF, REX Shares noted that the fund will track the price of the meme coin. This objective will be achieved either through a 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.
Under Gensler’s leadership, the SEC approved several Bitcoin and Ethereum spot ETFs in 2024, with these products seeing massive demand from issuers such as BlackRock, Fidelity, Bitwise and Ark/21Shares.
In addition to TRUMP and Dogecoin, several asset managers and ETP issuers have filed applications for exchange-traded funds tied to XRP, Solana, and Litecoin. The request for approval to list a TRUMP ETF comes just days after US President Donald Trump launched the meme coin ahead of his inauguration.
At its peak, the TRUMP token reached a market capitalization of over $15 billion, with the price of the token reaching a high of $75. However, the token has since fallen to around $38, and its market cap has fallen to $7.7 billion.
