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Trump Coin Gets Institutional Boost with New ETF from Investment Firms
The post Trump Coin Gets Institutional Boost with New ETF from Investment Firms appeared on BitcoinEthereumNews.com. Rex Shares and Osprey Funds have filed for multiple crypto ETFs, including one linked to Donald Trump’s memecoin, amid shifting U.S. regulations. Trump’s memecoin, TRUMP, surged 540% in a week, reaching an $8.31 billion market cap, while Melania’s token faced significant declines. Investment management firms Rex Shares and Osprey Funds submitted filings for a series of cryptocurrency-focused exchange-traded funds (ETFs), including one tied to a memecoin launched by Donald Trump. The proposal came just days after the former president’s inauguration. Wow. That was fast. @REXShares and Osprey have filed for a bunch of crypto ETFs including memecoins TRUMP, BONK, and DOGE. Also includes ETFs for Bitcoin, Ether, Solana, and XRP. pic.twitter.com/A4FzTdaBOj — James Seyffart (@JSeyff) January 21, 2025 Trump’s memecoin, named TRUMP, has already gained significant attention. The token has gained 8.40% in the last 24 hours, with the market cap surging by 8.60% and reaching $8.31 billion in the same period. TRUMP token recorded an impressive gain of 540% over the past week. First Lady Melania Trump also entered the crypto space with her token, MELANIA, which trades at around $3.90. Contrasting to the TRUMP token’s uptrend, the Melania token faces a bearish trend, with an 11.20% and 46% decline in the weekly and monthly frames, respectively. “This to me seems like issuers pushing the envelope with a new SEC administration while at the same time trying a novel structure for providing exposure to digital assets in an ETF wrapper,” said James Seyffart, ETF analyst at Bloomberg Intelligence. Crypto ETF Frenzy Hits SEC — Memecoins, Leverage, and More The proposed Rex-Osprey Trump ETF is part of a broader wave of recent crypto ETF applications. Alongside TRUMP, the filings include ETFs tracking Bitcoin, Ethereum, Dogecoin, and Bonk. Proposals for XRP and Solana-focused ETFs also appeared, signaling a potential expansion of…
The post Trump Coin Gets Institutional Boost with New ETF from Investment Firms appeared on BitcoinEthereumNews.com.
Rex Shares and Osprey Funds have filed for multiple crypto ETFs, including one linked to Donald Trump’s memecoin, amid shifting U.S. regulations. Trump’s memecoin, TRUMP, surged 540% in a week, reaching an $8.31 billion market cap, while Melania’s token faced significant declines. Investment management firms Rex Shares and Osprey Funds submitted filings for a series of cryptocurrency-focused exchange-traded funds (ETFs), including one tied to a memecoin launched by Donald Trump. The proposal came just days after the former president’s inauguration. Wow. That was fast. @REXShares and Osprey have filed for a bunch of crypto ETFs including memecoins TRUMP, BONK, and DOGE. Also includes ETFs for Bitcoin, Ether, Solana, and XRP. pic.twitter.com/A4FzTdaBOj — James Seyffart (@JSeyff) January 21, 2025 Trump’s memecoin, named TRUMP, has already gained significant attention. The token has gained 8.40% in the last 24 hours, with the market cap surging by 8.60% and reaching $8.31 billion in the same period. TRUMP token recorded an impressive gain of 540% over the past week. First Lady Melania Trump also entered the crypto space with her token, MELANIA, which trades at around $3.90. Contrasting to the TRUMP token’s uptrend, the Melania token faces a bearish trend, with an 11.20% and 46% decline in the weekly and monthly frames, respectively. “This to me seems like issuers pushing the envelope with a new SEC administration while at the same time trying a novel structure for providing exposure to digital assets in an ETF wrapper,” said James Seyffart, ETF analyst at Bloomberg Intelligence. Crypto ETF Frenzy Hits SEC — Memecoins, Leverage, and More The proposed Rex-Osprey Trump ETF is part of a broader wave of recent crypto ETF applications. Alongside TRUMP, the filings include ETFs tracking Bitcoin, Ethereum, Dogecoin, and Bonk. Proposals for XRP and Solana-focused ETFs also appeared, signaling a potential expansion of…
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