[Bitop Review] U.S. Fund Apply to SEC for TRUMP, DOGE, BONK... Meme Coin ETFs, Bloomberg Analyst: Surreal

At 10:40 PM last night (21st), Bloomberg Senior ETF Analyst Eric Balchunas posted that Rex has submitted new ETF registration documents to the U.S. Securities and Exchange Commission (SEC), filed jointly by Osprey Funds and Rex Shares. These documents list several altcoin/meme coin funds beyond Bitcoin and Ethereum, including TRUMP ETF, DOGE ETF, BONK ETF, as well as funds for Ethereum, XRP, and Solana, further challenging the SEC's stance on memecoins.

According to Eric Balchunas, the filings show that each proposed fund targets a designated reference asset and plans to invest at least 80% of its net assets in that asset, whether through direct holdings or derivatives like futures and swaps. He also exclaimed that it was "surreal."

TRUMP's Market Cap Halved from Peak

Although the likelihood of SEC approval in the short term might be low, it undeniably marks another astonishing record for the meme coin TRUMP, with an ETF application being submitted to the SEC less than five days after its issuance.

However, the price of the $TRUMP token does not seem to be spurred by this news, trading at $37.77 at the time of writing, down nearly 50% from its peak yesterday. The volatility has been extreme, and investors should be aware of the risks.

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