Breaking News: Trump Crypto Token Sparks ETF Frenzy
In a surprise move, a prominent ETF issuer has filed to launch a fund tracking the newly minted Trump crypto token, just days after its debut. The proposed Rex-Osprey Trump ETF could potentially gain exposure to the token through a Cayman Islands subsidiary, according to the filing.
A New Era for Crypto ETFs?
This development marks a significant shift in the crypto ETF landscape, which has been dominated by bitcoin and ether funds. The filing’s unique structure could allow for a faster launch, but it also increases the risk of regulatory rejection.
Trump Coin: A Billion-Dollar Phenomenon
The Trump token, built on the Solana platform, has experienced extreme volatility since its launch, with a notional value estimated in the billions of dollars. Despite its creators’ claims that it’s an “express of support” rather than an investment opportunity, the token’s value has sparked intense interest.
A Flurry of New Crypto ETF Filings
The Rex-Osprey Trump ETF is just one of several new crypto ETF proposals submitted in recent days. Other filings include funds tracking bitcoin, ether, solana, XRP, bonk, and doge, as well as a multi-token fund and leveraged/inverse XRP funds.
Regulatory Shift: A Wider Scope for Crypto Funds?
The crypto industry is optimistic that the Trump administration will pave the way for a broader range of funds. Acting SEC Chair Mark Uyeda has announced the formation of a “crypto task force” to develop a clearer regulatory framework for digital assets.
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