Bloomberg Analyst Hints Official Trump Memecoin And Dogecoin ETFs Could Hit Market As Early As April
Traditional U.S. investors could soon witness a state of confusion as the worlds first-ever exchange-traded funds based on canine-themed token Dogecoin (DOGE) and the newly launched Official Trump (TRUMP) meme coin may go live as soon as this April.
TRUMP, DOGE ETFs To Debut Soon?
The cryptocurrency market has witnessed a flurry of ETF fillings following the exit of former US Securities and Exchange Commission Chair Gary Gensler.
As ZyCrypto reported on Jan. 21, REX Shares and Osprey Funds filed proposals for DOGE and $TRUMP ETFs alongside BONK, Bitcoin (BTC), Ether (ETH), Solanas SOL, and Ripples payments token XRP.
These are 40 Act filings and so (theoretically, if they arent disapproved) could hit the market in early April Bloombergs senior ETF analyst Eric Balchunas said in a Tuesday X post.
Balchunas was referencing the 1940 Act, which controls funds combining assets and derivatives. Filings submitted under this Act are subject to a considerably shorter 75-day review process.
Based on this process, DOGE and TRUMP products could arrive earlier than other filings like XRP, SOL, and Litecoin ETFs which must go through a lengthy 240-day timeline under 19b-4 filing rules.
Popularized by prominent figures such as technocrat and the Department of Government Efficiency (DOGE) head Elon Musk, Dogecoin has evolved into a global crypto heavyweight.
A DOGE ETF greenlight would give traditional investors a regulated vehicle, presumably increasing the memecoins exposure and legitimacy in the broader financial ecosystem, thus increasing demand and propelling the price higher.
As with the Official TRUMP meme coin, it was launched just days before Trumps second term inauguration. The token shattered records after its debut, eventually hitting a $14.5 billion market cap.
$TRUMP, however, recently took a tumble after Trump admitted he didnt know much about his namesake memecoin.
I dont know where it is. I dont know much about it other than I launched it, other than it was very successful, Trump said Tuesday.
The Solana-based token now has a market cap above $7.9 billion, making it the 25th most valuable coin on the market, according to CoinGecko.
Text source: ZyCrypto
