A Miami-based funding agency with over $5 billion in belongings underneath administration, REX Shares, has filed to record a set of cryptocurrency exchange-traded funds (ETFs) providing publicity to numerous altcoins, together with main memecoins.
In keeping with current filings, first reported by Bloomberg Senior ETF analyst Eric Balchunas, the agency is trying to supply funds providing publicity to DOGE, BONK, and even Donald Trump’s just lately launched “official” memecoin TRUMP. The agency can also be searching for approval for ETFs monitoring established cryptocurrencies like bitcoin, ether, solana, and XRP.
The transfer comes amid a big shift on the U.S. Securities and Alternate Fee (SEC) after the departure of Chair Gary Gensler and with Mark Uyeda, who has known as the regulator’s method to crypto enforcement as “poorly conceived” underneath Gensler, being appointed as interim Chair.
REX Shares provides a variety of exchange-traded merchandise and has present ties with the cryptocurrency house by Osprey Funds, which managed leveraged BTC, ETH, and MicroStrategy funds.
In a March speech, Uyeda and fellow SEC Commissioner Hester Peirce mentioned that the “atmosphere now we have created for the crypto asset markets, particularly because it pertains to secondary buying and selling, is untenable.”
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