US fund company applies to SEC for meme coin ETFs such as TRUMP, DOGE, BONK... Bloomberg analyst: It's too magical

Trump’s official meme coin has set another unprecedented record. Osprey Funds and Rex Shares, US fund companies, have submitted an ETF proposal to the SEC, which includes meme coins such as TRUMP, DOGE, and BONK. (Background: Is Trump’s meme coin causing a constitutional crisis? Forbes: $TRUMP may be considered an encryption security by the SEC) (Additional information: Legally Be Played for Suckers? Trump’s meme coin $TRUMP has a built-in ‘class action waiver clause’) At 22:40 in the evening, Eric Balchunas, a senior ETF analyst at Bloomberg, tweeted that Rex has submitted new ETF registration documents to the US Securities and Exchange Commission (jointly applied by Osprey Funds and Rex Shares), listing several altcoin/meme coin funds other than BTC and Ethereum, including TRUMP ETF, DOGE ETF, BONK ETF, Ethereum, XRP, and Solana funds, further challenging the SEC’s stance on memecoins. According to Eric Balchunas, the documents show that each proposed fund targets a specific reference asset and plans to invest at least 80% of net assets in that asset, whether through direct holdings or derivatives such as futures and swaps. He also exclaimed that it’s too surreal. TRUMP’s market capitalization was cut in half from its peak. Although the probability of SEC approval in the short term may not be high, it undoubtedly sets another astonishing record for Trump’s meme coin, with fund companies applying for ETFs in less than five days. However, the price of $TRUMP token does not seem to be inspired by this, currently trading at $37.77, down nearly 50% from yesterday’s high, with significant fluctuations. Investors should be aware of the risks. Related reports: SEC Chairman Gary Gensler officially resigns, what is the first step for acting Chairman Mark Uyeda, who is encryption-friendly? Trump creates the craziest meme coin in history, who could be the next celebrity to launch a coin? Trump’s coin issuance reported by Taiwanese for violating anti-money laundering laws, PTT encryption moderator: The FSC should take action soon (US fund companies apply to the SEC for TRUMP, DOGE, BONK… and other meme coin ETFs, Bloomberg analyst: It’s too magical) This article was first published on BlockTempo, the most influential blockchain news media in the dynamic region.