TRUMP Memecoin ETF Filed With the US SEC
While the market is still reeling from the shock of the TRUMP token issued by the U.S. president, news of potential new investment products related to the token has surfaced.
On this page
According to a recent SEC (Securities and Exchange) filing, REX Financial and Osprey Funds applied to launch a fund that tracks the Trump crypto.
Called the Rex-Osprey Trump ETF, the product could gain exposure to the Trump token indirectly through a subsidiary based in the Cayman Islands.
Donald Trump launched the memecoin on January 18 on Solana. The token was highly volatile, and another token launched by Melania Trump a few days later added fuel to the volatility.
Currently, TRUMP trades at around $42, having increased by 550% in the last 7 days. It's the 25th-largest cryptocurrency with a market cap of over $8.4 billion.
Along with the TRUMP ETF, REX and Osprey plan to launch several other crypto ETFs, including Bitcoin, Ether, XRP, DOGE, SOL, and BONK.
Crypto ETFs, or exchange-traded funds, allow investors to gain exposure to digital assets without needing to buy the cryptocurrencies directly. They make it easier for regular investors to dip their toes into the crypto sector, offering a simpler, more regulated way to invest.
But while they provide a way to get exposure to crypto, it's important to remember that the market is volatile, and there are financial risks involved.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
