REX Shares has filed multiple exotic ETF applications for such tokens as XRP, Solana (SOL), and Dogecoin (DOGE).
Leading ETF analyst Eric Balchunas has stated that REX is not just a random issuer, noting that its CEO was "an early pioneer in the industry."
Alex DovbnyaGreg King, the founder and CEO of the Florida-based firm, has launched more than 100 ETFs and notes for such major names as
Godfrey BenjaminMeanwhile, Teucrium, another ETF issuer, has filed for 2x Long & Short XRP ETFs.
As reported by U.Today, leading analyst Nate Geraci previously predicted that an XRP ETF would be approved this year.
ETF issuers are rushing to submit new filings following the departure of former SEC Chair Gary Gensler. The controversial head of the formidable regulatory agency officially resigned on Monday.
SEC Commissioner Mark Uyeda, who is known for his strongly pro-crypto stance, has been appointed as the agency's new acting chairman. He will remain in this position until Paul Atkins, who was nominated Gensler in late 2024, takes the reins in December.
Even though Gensler approved Bitcoin and Ethereum ETFs last year, the agency refrained from greenlighting Solana ETFs under his watch in December.
In fact, Polymarket bettors now see a 92% chance of a Solana ETF being approved this year. Grayscale, Bitwise, VanEck, Canary Capital, and 21Shares are among the firms that have filed to launch Solana ETFs.
Litecoin has also emerged among the top contenders for getting its own ETF in the US.
Now, ETF issuers expect that the SEC will be open to more arcane ETF products under the new administration. However, it is still unlikely that we will go as far as approving a Doge ETF in the near future.
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Tomiwabold Olajide
Dan Burgin
Vladislav Sopov