REXShares and Osprey Funds, two leading fund management companies, have recently attracted significant attention by filing applications with the U.S. Securities and Exchange Commission (SEC) to approve a series of Cryptocurrency-related ETF funds. Notably, this list includes ETF funds dedicated to memecoin such as TRUMP, BONK and DOGE.
This marks the first time that memecoin - traditionally considered high-risk speculative assets - have been proposed as official ETF funds. Additionally, the list includes ETF funds focused on other well-known Cryptocurrencies such as Bit (BTC), ETH (ETH), Solana (SOL) and XRP, reflecting the ambition of both companies to expand the scope of digital asset investment in the traditional financial market.
The TRUMP ETF fund is attracting particular interest due to its connection to the TRUMP memecoin of U.S. President Donald Trump. The SEC's consideration and potential approval of an ETF fund inspired by a political figure like Trump will certainly face significant controversy. This also highlights the challenges the regulator faces in addressing Cryptocurrency-related issues within the current legal framework.
REXShares is one of the largest ETF and ETN providers, currently managing total assets exceeding $8 billion. Meanwhile, Osprey Funds focuses on digital asset investment and is known for its low-cost Bitcoin fund called OBTC. With their extensive experience and large-scale operations, the collaboration between these two companies could have a significant impact on the Cryptocurrency market and related investment products.
