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Investment Management Firms Want to Bring Trump Coin to Institutions With a New ETF
The memecoin, which was launched by the President on Friday, saw its price plummet nearly 26% over the past 24 hours.
Updated Jan 21, 2025, 6:11 p.m. Published Jan 21, 2025, 4:31 p.m.
What to know:
- Investment managers Rex Shares and Osprey Funds on Tuesday filed paperwork for several crypto exchange-traded funds (ETFs), including memecoins.
- One of the proposed funds would track the newly launched Trump coin, a memecoin by President Donald Trump.
- TRUMP amassed nearly $17 billion in trading volume over the past 24 hours even as it dropped nearly 25% over the same period.
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.
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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.
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. Traders simply bet on the tokens' price rising or falling.
An ETF tracking the price of it would therefore offer no value to buyers.
“This to me seems like issuers pushing the envelope with a new SEC administration while at the same time trying a novel structure for providing exposure to digital assets in an ETF wrapper,” said James Seyffart, an ETF analyst at Bloomberg Intelligence.
The issuers also filed documents to launch an ETF tracking the price of , another memecoin. In one of his first executive orders, Trump established a "Department of Government Efficiency" by renaming the U.S. Digital Service. While the entity is supposedly tasked with streamlining certain government agencies and departments, its website at press time just featured a picture of the dogecoin mascot.
The SEC under former Chair Gary Gensler was careful when approving ETFs tracking cryptocurrencies. It took issuers years to receive the green light to launch a spot bitcoin ETF as well as a spot ethereum ETF. It's unclear how quickly these latest applications, which also include ETFs tracking BONK (another memecoin), XRP (associated with the company Ripple) and SOL (a layer 1 blockchain), might be approved.
Bloomberg Intelligence Senior ETF Analyst Eric Balchunas called the Trump ETF application “surreal.”
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
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- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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