Investment Management Firms Want to Bring Trump Coin to Institutions With a New ETF

Investment Management Firms Want to Bring Trump Coin to Institutions With a New ETF


Crypto issuers surely seem to think anything is possible now that Donald Trump is in office.

Exchange-traded fund issuer Rex Shares and crypto asset manager Osprey Funds on Tuesday filed for numerous crypto-focused exchange-traded funds (ETF), including a Trump ETF, according to a filing with the Securities and Exchange Commission (SEC) on Tuesday.

The ETF would track the price of TRUMP, the memecoin launched by the President himself on Friday, a few days before his inauguration. The coin amassed nearly $17 billion in trading volume over the past 24 hours while dropping nearly 25% over the same period.

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First Lady Melania Trump also launched her own token called MELANIA, which currently trades at roughly $4. Both tokens are memecoins and therefore have no intrinsic value.

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