Two American Funds File Their Application For The TRUMP And DOGE ETFs

Osprey Funds and Rex Shares have filed applications with the SEC for ETFs for several cryptocurrencies, including the famous memecoins TRUMP and DOGE. This step comes in the context of a major transformation in the American regulatory landscape, marked by the departure of Gary Gensler from the SEC.

Two asset managers pave the way for TRUMP and DOGE ETFs

On January 21, 2025, two major players in finance, Osprey Funds and Rex Shares, filed a historical application with the U.S. SEC. Their goal: to create ETFs on several major cryptocurrencies, with a surprising twist – the inclusion of memecoins.

This initiative marks a spectacular turnaround in the American regulatory landscape. Indeed, during Gary Gensler’s era, memecoins were viewed with extreme suspicion by regulators. Today, these same tokens could benefit from official ETFs in the United States, including Dogecoin (DOGE), TRUMP, and BONK.

Ironically, Donald Trump himself seems detached from his own memecoin (TRUMP), having recently stated during a press conference “not knowing much“.

According to the filed application, these ETFs will directly hold the concerned cryptocurrencies and their derivatives, with a commitment to invest at least 80% of their net assets in these instruments.

This project comes in a particular context: the TRUMP memecoin, launched on January 18, has seen a tumultuous journey, with its valuation dropping from $14.5 billion to around $6 billion in just a few days.

A major turning point for the crypto industry

The arrival of these new ETFs marks a major turning point in the crypto ecosystem. While ETFs have primarily been considered for cryptocurrencies with solid fundamentals (Bitcoin and Ethereum), their expansion to memecoins represents an unexpected evolution of the market.

Beyond memecoins, Osprey Funds and Rex Shares have also filed ETF applications for established cryptocurrencies like Bitcoin, Ethereum, Solana, and XRP. Rex Shares, which already offers the MSTU ETF with 2x leveraged exposure to MicroStrategy, is thus significantly expanding its offerings into a previously unexplored territory of cryptocurrencies.

This evolution is set against a backdrop of major regulatory transformation. The replacement of Gary Gensler by Paul Atkins at the helm of the SEC suggests a more favorable environment for the crypto sector. Atkins, recognized for his balanced view of blockchain, could thus facilitate the emergence of these new financial products.

This initiative coincides with Donald Trump’s commitment to make the United States the “world capital of cryptocurrencies“. In this context, the SEC created a dedicated task force for crypto assets yesterday, led by Hester Peircer. This team will be responsible for developing a regulatory framework suitable for crypto assets.

These “memecoin ETF” applications illustrate the rapid transformation of the sector, wherein initially speculative tokens could become institutional financial assets. The challenge for the SEC will be to find the balance between investor protection and financial innovation, a mission that the new task force will need to accomplish.

All eyes are now on the SEC, whose decision regarding these applications for memecoin ETFs could mark a historic precedent in the history of finance.