Doge & Trump Token ETFs Filed

Dogecoin and Trump Token ETFs Filed with the SEC

Osprey Funds, a Connecticut-based digital asset management firm, has filed with the Securities and Exchange Commission (SEC) for seven spot cryptocurrency exchange-traded funds (ETFs).

This notable filing includes ETFs for Dogecoin (DOGE) and a newly launched Trump-branded meme coin, alongside established cryptocurrencies like Ethereum (ETH), Bitcoin (BTC), Solana (SOL), XRP, and Bonk (BONK).

Key Takeaways

• The filing includes seven spot crypto ETFs, a significant step in the crypto ETF space.
• The inclusion of the recently launched Trump token highlights potential pro-crypto policies under the new administration.
• The filings come amid speculation about a shift toward more crypto-friendly regulation in the US.

While a Dogecoin ETF was anticipated given its popularity, the inclusion of the Trump token, which debuted just days prior, is noteworthy. Initial speculation surrounding the token's launch involved potential hacking of Donald Trump's Truth Social account. However, a post on X (formerly Twitter) confirmed its legitimacy as a meme coin endorsed by President Trump, who was recently inaugurated.

The Trump token initially saw a meteoric rise, reaching a peak market cap of $15 billion and a fully diluted valuation of $75 billion. However, the launch of a Melania Trump meme coin shortly after created a liquidity split, leading to a market downturn for both tokens.

Pro-Crypto Signals from the Trump Administration

With expectations of a pro-crypto stance from President Trump's administration, key appointments reinforce this belief. Paul Atkins is nominated as SEC Chair, with Mark Uyeda serving as interim Chair. Additionally, David Sacks has been named "crypto czar." These individuals have publicly expressed support for cryptocurrency, leading to optimism about future pro-crypto policies.

While approval of these ETFs remains uncertain, the filing represents a significant step by digital asset firms in their efforts to introduce new crypto products. Osprey Funds, already managing publicly traded trusts for Bitcoin, Solana, Polkadot, and BNB Chain, continues to expand its offerings.

Codeum provides comprehensive blockchain security services, including smart contract audits, KYC verification, and custom smart contract and DApp development. We also offer tokenomics and security consultations and partnerships with launchpads and crypto agencies. Contact us to learn more about securing your blockchain projects.