Amidst the crypto chaos, two daring entities, REX Shares 🦖 and Osprey 🦅, have thrown their hats into the ring, filing for ETFs linked to TRUMP, Bonk Inu (BONK 🐶), and Dogecoin (DOGE 🚀). Can you hear the memecoins laughing?
ETFs Aim For The Moon With Memecoins & Crypto Heavyweights
James Seyffart, the ETF guru 🧙♂️ at Bloomberg, reveals the full scope: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP, all under the 1940 Act. It’s a Cayman Islands 🏝️ party!
This strategy mirrors commodity ETFs, dodging tax nightmares 🙈 and those pesky K-1 forms. Investors, rejoice! Your paperwork just got lighter.
The REX-Osprey TRUMP (Cayman) Portfolio S.P., a subsidiary in the Cayman Islands 🇰🇾, will carry up to 25% of the fund’s assets. Diversification and IRS compliance? Check and check.
With “non-diversified” status, the fund flexes its investment muscles. Cash equivalents 📊 like US Treasuries and money market funds complete the portfolio.
33 Crypto ETFs & Counting: The Market’s New Obsession
Eric Balchunas 🕵️♂️ notes 33 crypto ETFs filed with the SEC. Gary Gensler’s exit signals a surge, possibly reaching 50. But where’s the money, Brinks?
Spot Bitcoin ETFs remain the king 👑, overshadowing lesser-known cousins. Balchunas compares it to the commodities sector: gold reigns supreme while silver and palladium play second fiddle.
Mainstream cryptos like Bitcoin and Ethereum 🌟 will hog the limelight, leaving memecoins to bask in the shadows. Such is the nature of the beast.
As of now, TRUMP 🎩 sits at $39,044, a 50% drop from its $79 high. Crypto, you’re fired! Or hired? Who knows anymore…
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2025-01-22 06:11