REX Shares Files for Official Trump (TRUMP), Dogecoin (DOGE), and BONK (BONK) Exchange-Traded Funds (ETFs) with the SEC

Miami-based ETP (exchange-traded product) provider REX Shares has filed with the Securities and Exchange Commission (SEC) in hopes of issuing Official Trump (TRUMP), Dogecoin (DOGE), and BONK exchange-traded funds (ETFs), marking a significant step in filings for cryptocurrency ETFs beyond Bitcoin and Ethereum.

Miami-based exchange-traded product (ETP) provider REX Shares filed with the Securities and Exchange Commission (SEC) in hopes of issuing Official Trump (TRUMP), Dogecoin (DOGE), and BONK exchange-traded funds (ETFs), a significant step in filings for cryptocurrency ETFs beyond Bitcoin and Ethereum.

In addition to the memecoins, REX also seeks to establish funds for BTC, ETH, Solana (SOL), and XRP. Among crypto ETF applicants, REX has the highest number of crypto ETFs filed so far.

Could REX Shares Be a Potential Dark Horse in the Crypto ETF Market?

REX Shares offers a broad range of ETPs, including some crypto-related solutions through its sister company, Osprey Funds.

The REX team boasts a diverse talent pool with experience at Barclays, BMO Global Asset Management, Citi, Wells Fargo, JPMorgan Asset Manager, Oppenheimer Funds, and Susquehanna International Group (SIG).

If REX's filings are approved under the new SEC leadership, the company could claim the title of the first issuer of memecoin ETFs in the U.S.

While REX may not be as large as some of the current issuers of Bitcoin and Ethereum ETFs, such as BlackRock and Fidelity, its unique position as among the first movers in meme token ETFs could make it popular among consumers interested in crypto ETFs.

Striking While the Iron Is Hot: A Closer Look at the Filings

It appears REX wasted no time in aiming to be a first-mover in the memecoin ETF domain, as it made the filing on Tuesday, a day after SEC Chair Gary Gensler stepped down from his post and U.S. President Donald Trump designated SEC Commissioner Mark Uyeda as Acting Chair.

Uyeda is known for his pro-innovation views and has criticized the Gensler-led SEC's handling of digital asset regulation.

The filing also comes just days after Trump launched his official token, which soared to a multi-billion dollar valuation within hours of hitting the crypto market.

$TRUMP, $DOGE, $BONK Surge on Big News

The three memecoins that REX filed funds for all surged on Tuesday night following the development.

DOGE enjoyed an 8% gain, BONK soared by over 12%, and TRUMP added 20% as crypto users took to social media to discuss how REX's move could impact the memecoin market.

Reactions to the filing were mixed, with some expressing delight that memecoins are finally getting more attention for potential utility.

However, others felt that things are moving "too fast," and it may be unlikely memecoin ETFs will be approved "for now."

One user noted that he anticipates many crypto holders will become millionaires if memecoin ETFs are approved for trading.

It remains to be seen whether the SEC will consider REX's filings, particularly the memecoin ETF, given that most meme tokens lack proven utility and are often created primarily for fun and user engagement.