The post REX ETF News: REX Shares Files for Multiple Crypto ETFs, Including TRUMP, BTC, and ETH appeared first on Coinpedia Fintech News
In a latest development, Asset manager REX Shares has filed for several crypto-related exchange-traded funds (ETFs) with the SEC, including options for XRP, SOL, DOGE, and BONK for institutional investors.
In a recent X post, Bloomberg analyst Eric Balchunas shared the news. The asset manager filed these applications in collaboration with Osprey. REX Shares has also filed with the SEC to offer Bitcoin and Ethereum ETFs, along with an ETF for the newly launched TRUMP meme coin targeting institutional investors.
Bloomberg’s Eric Balchunas reports that REX Shares’ filings show each proposed ETF will invest at least 80% of its assets in a designated reference asset, including Bitcoin, Ethereum, and the TRUMP memecoin. Notably, the analyst described the situation as “surreal.”
The TRUMP ETF, which aims to track the TRUMP coin’s price, will use a subsidiary, REX-Osprey TRUMP, and may expand exposure through futures and swaps. Despite its rapid growth, TRUMP’s market cap has been volatile, briefly surpassing $15 billion before dropping by nearly $7.8 billion. The filing has not yet impacted the coin’s price.