Three U.S. asset managers plan to launch exchange-traded funds focused on meme coins tied to President Donald Trump and Elon Musk. Rex Financial, in partnership with Osprey Funds, has filed with the SEC to create an ETF based on the Trump meme coin, while Bitwise Asset Management is seeking approval for a Dogecoin ETF. Industry analysts warn these funds are highly speculative and carry extreme risks, with memecoins often lacking fundamental value. The SEC’s new leadership under Paul Atkins could mark a more favorable regulatory environment, but experts remain divided on the long-term implications of these novel ETFs.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02U.S. asset managers are planning to launch exchange-traded funds focused on meme coins
00:07tied to President Donald Trump and Elon Musk.
00:10Rex Financial, in partnership with Osprey Funds,
00:13has filed with the SEC to create an ETF based on the Trump meme coin,
00:17while Bitwise Assets Management is seeking approval for Dogecoin ETF.
00:22Industry analysts warn that these funds are highly speculative and carry extreme risk,
00:27with meme coins often lacking fundamental value.
00:30The SEC's new leadership under Paul Adkins could mark a more favorable regulatory environment,
00:35but experts remain divided on the long-term implications of these novel ETFs.
00:39For all things money, visit Benzinga.com.