{"id":8906,"date":"2025-01-21T16:33:43","date_gmt":"2025-01-21T16:33:43","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=8906"},"modified":"2025-01-21T16:33:43","modified_gmt":"2025-01-21T16:33:43","slug":"investment-management-firms-want-to-bring-trump-coin-to-institutions-with-a-new-etf","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=8906","title":{"rendered":"Investment Management Firms Want to Bring Trump Coin to Institutions With a New ETF"},"content":{"rendered":"
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Crypto issuers surely seem to think anything is possible now that Donald Trump is in office.<\/p>\n

Exchange-traded fund issuer Rex Shares and crypto asset manager Osprey Funds on Tuesday filed for numerous crypto-focused exchange-traded funds (ETF), including a Trump ETF, according to a filing<\/a> with the Securities and Exchange Commission (SEC) on Tuesday.<\/p>\n

The ETF would track the price of TRUMP, the memecoin launched by the President himself on Friday<\/a>, a few days before his inauguration. The coin amassed nearly $17 billion in trading volume over the past 24 hours while dropping nearly 25% over the same period.<\/p>\n

First Lady Melania Trump also launched her own token called MELANIA, which currently trades at roughly $4. Both tokens are memecoins and therefore have no intrinsic value. Traders simply bet on the tokens’ price rising or falling.<\/p>\n

An ETF tracking the price of it would therefore offer no value to buyers.<\/p>\n

\u201cThis to me seems like issuers pushing the envelope with a new SEC administration while at the same time trying a novel structure for providing exposure to digital assets in an ETF wrapper,\u201d said James Seyffart, an ETF analyst at Bloomberg Intelligence.<\/p>\n

The issuers also filed documents to launch an ETF tracking the price of Dogecoin (DOGE), another memecoin. In one of his first executive orders<\/a>, Trump established a “Department of Government Efficiency” by renaming the U.S. Digital Service. While the entity is supposedly tasked with streamlining certain government agencies and departments, its website<\/a> at press time just featured a picture of the dogecoin mascot.<\/p>\n

The SEC under former Chair Gary Gensler was careful when approving ETFs tracking cryptocurrencies. It took issuers years to receive the green light to launch a spot bitcoin (BTC) ETF as well as a spot ethereum (ETH) ETF. It’s unclear how quickly these latest applications, which also include ETFs tracking BONK (another memecoin), XRP (associated with the company Ripple) and SOL (a layer 1 blockchain), might be approved.<\/p>\n

Bloomberg Intelligence Senior ETF Analyst Eric Balchunas called<\/a> the Trump ETF application \u201csurreal.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto issuers surely seem to think anything is possible now that Donald Trump is in office. Exchange-traded fund issuer Rex Shares and crypto asset manager Osprey Funds on Tuesday filed for numerous crypto-focused exchange-traded funds (ETF), including a Trump ETF, according to a filing with the Securities and Exchange Commission (SEC) on Tuesday. The ETF […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-8906","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/8906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8906"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/8906\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}