Yes, Someone Has Filed For a TRUMP ETF

The door had barely closed behind former Securities and Exchange Commission (SEC) Chairman Gary Gensler Friday when would-be crypto exchange-traded fund (ETF) issuers jumped in with both feet. Gensler is seen as having been very much against crypto ETFs besides for bitcoin and ether.

There are now 33 pending ETF applications before the SEC, 16 of them filed on Friday, Jan. 17 or Tuesday, Jan. 21.

That list “doubled since Gensler left the building Friday,” Bloomberg senior ETF analyst Eric Balchunas said on X. “Won’t be surprised if it hits 50 within a week or two.”

Most are Bitcoin, Ethereum, XRP or Solana-based but a few go a bit further afield. Notably three from Rex and Osprey covering memecoins DOGE, BONK, and — yes, really — TRUMP.

"Surreal"

The latter drew a comment of “surreal” from Balchunas, who later felt the need to add that it’s “also worth noting the main guy behind REX isn’t some rando come lately issuer but rather an early pioneer in the industry, with decades of experience.”

Speaking about the list as a whole, Bloomberg analyst James Seyffart added, “guys. Didn't think this needed to be said BUTTTT these dates do not mean these things are definitively going to be approved. Even under this new SEC administration.”

Because of the way the Doge, Bonk and Trump filings were made, they could “theoretically, if they aren’t disapproved, hit the market in early Aprill,” Balchunas said. That is because they were filed under a provision that could get them out in 75 days rather than the 240 days required for other ETFs, he said.

“Yes, it's getting crazy but keep in mind that even if all this stuff is approved, THE BULK OF THE MONEY WILL STILL BE IN AND GO TO SPOT BITCOIN ETFS,” Balchunas added.

Finally, he noted, there is an “interesting subplot here with Trump coin, does the SEC reject an ETF based on the President's (their boss) own meme coin?”