REX Shares submitted ETF applications combining political and crypto topics to the SEC on January 21, 2025. EXTRA trading products will include TRUMP meme coin and Dogecoin but still need SEC approval.
REX Shares launched their crypto market expansion plan just one day after Gary Gensler left his SEC position. The asset manager, alongside Osprey Funds, has requested approval for crypto ETFs that track Bitcoin, Ethereum, XRP, Bonk, Solana, and both TRUMP and Dogecoin.
Senior ETF analyst Eric Balchunas from Bloomberg tweeted on X about how rising social media trends mix meme culture with financial products, expressing shock.
REX Shares Launches TRUMP Meme Coin ETF
The TRUMP ETF tracks the TRUMP meme coin, which Donald Trump created right before his presidential inauguration period. The fund plans to invest in TRUMP tokens straight or use trading services provided by the REX-Osprey TRUMP subsidiary.
During its most successful phase, the TRUMP token achieved a market worth of over $15 billion and hit its all-time high at $75 per token. Its current standing shows $7.7 billion total market value, although it trades at a less valuable $38 price.
The application took place under Gensler’s direction at the SEC as the agency began granting permission for spot Bitcoin and Ethereum ETFs. Investors showed strong interest in ETF products that leading issuers including BlackRock, Fidelity, Bitwise, and Ark/21Shares introduced.
By entering the crypto market, REX Shares adds to the growing group of exchange-traded product issuers and asset managers pursuing crypto opportunities. The demand for digital asset exposure in traditional markets continues to grow as SEC filings start appearing for ETFs related to Solana XRP and Litecoin.
The TRUMP ETF launch reveals the meeting point between political factors and cryptocurrency markets. Former President Donald Trump’s creation of a meme coin has drawn widespread interest as retail and institutional investors show enthusiasm for its price fluctuations.
These ETFs wait for the new SEC team to make a final decision on their future. The SEC filings mark an important period in cryptocurrency adoption as companies and notable personalities use popular crypto assets to draw more investors to conventional financial markets.
