Trump and Doge meme coins get ETF filings as Trump begins second term in office

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Osprey Funds, a Connecticut-based digital asset management firm, has filed with the SEC for seven spot crypto ETFs featuring Trump and Doge meme coins.

The filings also include five additional crypto assets: Ethereum (ETH), Bitcoin (BTC), Solana (SOL), XRP, and Bonk (BONK).

While Doge ETFs were expected given the coin’s popularity, the Trump token ETF is a surprising move, as the coin debuted only five days ago.

The Trump token’s announcement last Friday initially sparked speculation that Donald Trump’s Truth Social account had been hacked.

However, a post on social media platform X confirmed the coin’s legitimacy as an endorsed meme token by President Trump, who was sworn in yesterday as the 47th President of the United States.

The Trump token reached a peak market cap of $15 billion, with a fully diluted valuation of $75 billion, on Sunday morning.

The hype surrounding the token mirrored its rapid rise but was dampened when a new meme coin tied to Melania Trump was launched on Sunday. This split liquidity between the tokens led to a market downturn for both.

With Trump’s presidency expected to be pro-crypto, key appointments signal a favorable stance toward digital assets.

Paul Atkins has been nominated to become the SEC Chair, with Mark Uyeda serving as interim SEC Chair. David Sacks has been appointed as the “crypto czar,” further reinforcing this pro-crypto outlook.

These leaders have expressed support for crypto in the past, raising expectations for pro-crypto policies under Trump’s administration.

While the approval of this ETF remains uncertain, it marks the beginning of continued efforts by digital asset firms to push for new crypto products, such as trusts and ETFs, in the future.

Osprey currently manages publicly traded trusts for Bitcoin, Solana, Polkadot, and BNB Chain, while also offering private placement options for assets such as the BONK token.

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