Meme Coin Supercycle? Dogecoin, Trump, Bonk Futures ETF Applications Filed

Since former President Donald Trump's inauguration, two firms have filed proposals for a wide range of new crypto-based investment products

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.

What Happened: The firms, REXShares and Osprey, have jointly submitted filings with the Securities and Exchange Commission for a whole suite of crypto ETFs, going far beyond the traditional Bitcoin (CRYPTO: BTC) and Ether (CRYPTO: ETH) options.

Among the filings are applications for ETFs that will track the performance of some of the hottest meme coins, including TRUMP (CRYPTO: TRUMP), BONK (CRYPTO: BONK) and Dogecoin (CRYPTO: DOGE).

See More: Best Meme Coins To Buy Now

Why It Matters: The filings also serve as a reminder of the risks involved in meme coin investing.

The SEC has previously warned investors about the speculative nature of these assets and the potential for fraud and manipulation in the largely unregulated market.

Meme coins often experience extreme price volatility and can be heavily influenced by social media trends and hype.

TRUMP coin, for example, is a community token named after the former U.S. president, while BONK coin is a Solana-based meme coin that was airdropped to users of the network.

Coin Crusaders, a group of crypto enthusiasts, launched the Trump coin in December 2022, aiming to create a decentralized and censorship-resistant currency.

The coin's total supply is capped at 45 trillion TRUMP, and it trades on decentralized exchanges like Uniswap.

Meme coin ETFs, if approved by the SEC, could provide a way for investors to gain exposure to a basket of these assets through a regulated channel.