Zinger Key Points
- Meme coins, known for their community-driven appeal, are now potentially a major part of the mainstream financial industry’s offerings.
- The industry now waits to see if the SEC will approve these filings and allow the newly suggested crypto ETFs to come to the market.
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Just a day after Donald Trump's inauguration, two firms have filed proposals for a wide range of new crypto-based investment products, including some unexpected entries: exchange-traded funds, or ETFs, based on meme coins.
Why It Matters: The firms, REXShares and Osprey, have jointly submitted filings with the SEC for a whole suite of crypto ETFs, going far beyond the traditional Bitcoin BTC/USD and Ether ETH/USD options.
What has raised eyebrows is the inclusion of ETFs based on meme coins: tokens like TRUMP TRUMP/USD, BONK BONK/USD and Dogecoin DOGE/USD.
This move comes as many believe President Trump is more amenable to digital assets than his predecessor.
While his stance has shifted at different points in time, the sentiment in the crypto community is largely positive given that he has hinted at a less restrictive regulatory approach.
It’s also a moment of change within the regulatory bodies.
The SEC has recently seen leadership changes, along with shifts in focus at the CFTC, potentially paving the way for more crypto-friendly policies to emerge within the coming months and years.
Also Read: EXCLUSIVE: Trump Does Not Establish Bitcoin Reserve, Crypto-Friendly Policies On Day 1—And Now?
Why It Matters: The filings also serve as a reminder of the risks involved.
They highlight the high volatility of crypto assets and warn that investors could lose a significant portion of their investment.
The nature of these digital assets means that their values can swing wildly, influenced by factors beyond typical market analysis and control.
Security concerns, such as the potential for theft, hacking, and the loss of digital keys, are also listed.
Before these new investment products become available, the SEC must review and approve the filings.
This process could take some time, and there's no guarantee of approval.
But the simple fact that these proposals are now on the table is itself a significant moment for the crypto industry, especially in a post-inaugural Trump era.
This demonstrates the growing desire from the digital asset community to see wider adoption, and how the financial industry is taking notice to the growing trend of including digital assets in everyday portfolios.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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