REX Shares have filed for a slew of crypto exchange traded funds (ETFs) including the first funds for the recently launched TRUMP meme coin, as well as BONK and Dogecoin. The filing also seeks to create funds for Bitcoin, Ethereum, Solana, and XRP.
The Miami, Florida based firm offers a range of exchange traded products, including a number of crypto services through its sister company Osprey Funds. These crypto products include leveraged funds for Bitcoin, Ethereum, and MicroStrategy. REX claims to have over $8 billion assets under management.
The Tuesday filings are now the firm’s first meme coin filing and, if approved, would become the first meme coin ETFs in the U.S.. This comes just a day after Gary Gensler parted ways with the SEC and pro-crypto Mark Uyeda took temporary lead of the regulator.
It was only January 2024 when the first spot Bitcoin ETF was approved in the U.S., with Ethereum ETFs later approved in May. Since then, requests for Solana and XRP ETFs have been filed which gained some momentum but ultimately were never approved.
However, it appears that with Donald Trump officially becoming the 47th President of the United States, the crypto industry has grown more hopeful of ETF approvals. As such, the first meme coin filings have rolled in.
“With the new Administration, there’s further opportunity for financial instruments to receive clarity around filings and steps forward,” pseudonymous Core Contributor for Bonk, Nom, told Decrypt. “This is the correct time to push for the opportunity to bring BONK to traditional investment firms, and make it easier for investors who are not able to engage with assets on-chain.”
Edited by Stacy Elliott.
