The TRUMP token of the newly elected President Donald Trump surged around $17 billion in market value. The expected crypto-friendly regime of the new government helped to lift Bitcoin to new heights. The Trump administration is expected to create a golden age for cryptocurrencies in contrast with the existing policies.
The Exchange-Traded Fund (ETF) issuer Rex Shares and Crypto asset manager Osprey Funds on Tuesday filled many crypto-focused Exchange-Traded Funds (ETF) with the Securities and Exchange Commission (SEC). These ETF lists include the Trump ETF also.
The ETF is designed to track the price of the TRUMP meme coin launched by Donald Trump himself on Friday. Melania Trump also launched her token called MELANIA. It is currently trading at around $4. Both of these meme coins don’t have any intrinsic value. Traders can simply trade according to the fluctuations in the price of the token. The ETF that tracks the value of these tokens will also have no intrinsic value.
-BiztechAfrica