Crypto ETF Applications Soar After Gensler Exit, Trump Token Leads

• Crypto ETF applications surged to 33 after Gary Gensler resigned as SEC Chair.
• The SEC received filings for Bitcoin, Dogecoin, Solana, and Trump-themed ETFs.
• REX Shares filed the first-ever ETF focused on the Trump memecoin.

The floodgates have opened for crypto exchange-traded funds (ETFs) following Gary Gensler’s resignation as SEC Chair. Since his departure, crypto ETF applications have surged, doubling to 33 filings with the U.S. Securities and Exchange Commission (SEC). With a variety of tokens in the mix, from Bitcoin to Dogecoin and even a Trump-themed token, the industry is buzzing with anticipation.

Crypto ETF Filings Reach New Heights

The SEC has seen a significant spike in crypto ETF applications this week, marking an unexpected shift. Asset managers are rushing to file products that cover not just mainstream tokens but also niche options. Some of the latest filings include Solana, Litecoin, Dogecoin, and even a Trump-branded memecoin ETF.

Source: X

Industry analysts believe this uptick reflects growing confidence in the new regulatory landscape. However, the market’s focus remains on Bitcoin ETFs, which have consistently drawn the most attention and investor capital. With the change in leadership at the SEC, the pace of filings is expected to continue accelerating.

Trump Memecoin ETF Filing Sparks Market Buzz

Investment firm REX Shares has taken the spotlight by filing for the first-ever Trump-themed ETF. This product will focus on the recently launched TRUMP memecoin, investing 80% of its assets in the token. Alongside TRUMP, the firm has also filed for Dogecoin and Bonk ETFs, signaling a bold bet on the memecoin phenomenon.

These filings aim to cater to investors looking for exposure to unconventional crypto assets. While some see potential in the novelty of these ETFs, others remain skeptical about their long-term appeal. REX Shares is also planning to diversify investments into non-U.S. crypto ETFs, offering a broader market reach.

Despite the excitement, analysts are cautious about the broader impact of these new ETF launches. Financial experts from JPMorgan suggest that smaller tokens might struggle to attract meaningful investor interest. They note that Bitcoin-focused ETFs, particularly those from heavyweights like BlackRock, are likely to remain dominant.

The crypto market’s trajectory appears to mimic the commodities sector, where gold and silver lead while niche options see limited activity. Industry insiders believe the market will naturally sort winners from losers, favoring mainstream options over fringe tokens.

What Lies Ahead?

With the SEC now led by Mark Uyeda, the crypto community is watching for policy shifts that could affect these filings. The sudden wave of applications suggests heightened optimism, but actual approval will be the real test. As these developments unfold, all eyes are on the SEC’s decisions in shaping the future of crypto ETFs.

The crypto ETF frenzy underscores the market’s evolving nature, blending innovation with speculation.