• Osprey and Rex file for SEC approval to launch seven spot crypto ETFs, including XRP, DOGE, and TRUMP.
• SEC filings hint at a positive shift in U.S. crypto regulations under the new administration.
• DOGE and BONK see price surges following ETF filings, highlighting growing crypto market interest.

Osprey Funds and Rex Shares have filed applications for seven spot crypto ETFs with the U.S. SEC. The filings target assets such as Bitcoin (BTC), Ethereum (ETH), Ripple’s XRP, Solana (SOL), and meme coins BONK, DOGE, and TRUMP. This move reflects growing demand for regulated crypto investments, spurred by optimism surrounding the new U.S. administration.

According to Bloomberg analyst Eric Balchunas, the ETFs, filed under the 1940 Act, plan to allocate at least 80% of their assets to the targeted cryptocurrencies, either through spot holdings or derivatives.

The ETF filings come during a period of significant regulatory shifts in the U.S. Recent leadership changes, including the appointment of Paul Atkins as SEC Chair and David Sacks as the “crypto czar,” have created a favorable outlook for cryptocurrency markets.

The SEC has formed a task force led by Commissioner Hester Peirce, aiming to address crypto regulations and establish clearer guidelines for digital assets. These developments have boosted confidence among investors and asset managers. Greg King, CEO of Osprey Funds, highlighted the need for regulated products to support the rising interest in cryptocurrencies.

The inclusion of a TRUMP token ETF in these filings has sparked significant controversy. Launched just days before the filing, the token initially gained traction but quickly plummeted, drawing widespread criticism. Many have labeled it a pump-and-dump scheme tied to the new President, raising questions about its legitimacy.

Following the ETF filings, BONK saw its price rise by approximately 12%, showcasing the market’s enthusiasm.

If approved, these ETFs could simplify crypto access through direct ownership. However, regulatory scrutiny remains a key hurdle. The SEC’s decision will shape the pace of cryptocurrency adoption in mainstream finance.