- TRUMP coin triggers regulatory filings for seven meme coin ETFs, together with DOGE and BONK.
- REXShares and Osprey Funds purpose to launch the primary TRUMP coin-focused ETF.
- The SEC has established a Cryptocurrency Activity Pressure amid a surge in ETF functions.
The meme coin craze has entered a brand new part as seven crypto ETFs focusing on viral tokens resembling TRUMP, DOGE, and BONK have entered the fray. Main funding companies are competing to capitalize on the rising curiosity in meme cash, pushing these digital belongings into the regulated monetary ecosystem.
REX Advisers, the dad or mum firm of REXShares, and Osprey Funds have collectively filed with the U.S. Securities and Alternate Fee (SEC) to launch a sequence of crypto ETFs. These merchandise cater to traders who need to experience the meme coin wave and purpose to bridge the hole between the unregulated world of cryptocurrencies and the world of conventional finance.
Associated: ProShares recordsdata for XRP ETF on Gensler’s ultimate day as SEC chairman
The turbulent path to inclusion of TRUMP token in ETF
The TRUMP token launched on the Solana blockchain has confronted a risky journey. After debuting with a 600% worth surge on January seventeenth, the token reached a peak of $33.78. Nonetheless, the euphoria was short-lived, and TRUMP’s market capitalization misplaced greater than $5 billion inside days.
Business analysts consider that incorporating the TRUMP token into an ETF is a dangerous transfer. Whereas DOGE and BONK boast well-established communities, good merchants can be cautious of betting on $TRUMP’s success past its namesake.
Ripple ETF and Solana ETF Mirror Huge Adoption
Functions for ETFs have gone past meme cash. REX and Osprey purpose to incorporate Solana (SOL) and Ripple’s XRP of their companies, signaling a broader technique to combine main cryptocurrencies.
Teucrium, recognized for its experience in commodity ETFs, has filed for a leveraged ETF and an inverse XRP ETF. Equally, Calamos plans to launch a downside-protected Bitcoin ETF, providing traders an revolutionary approach to handle cryptocurrency volatility.
These developments observe the success of Bitcoin and Ethereum ETFs, which have attracted curiosity from institutional traders resembling pension funds, together with the Wisconsin Funding Fee and the State of Michigan.
As extra conventional monetary corporations transfer into crypto ETFs, the SEC, presently led by Appearing Chairman Mark Ueda, has shaped a Cryptocurrency Activity Pressure to handle the evolving challenges on this house.
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