The digital token launched by Trump has sparked a frenzy in the cryptocurrency market, followed by an emerging ETF company planning to launch an exchange-traded fund (ETF) focused on the Trump token. This marks a test of the regulatory boundaries of the U.S. Securities and Exchange Commission (SEC).

First the Trump memecoin, now the ETF. Just days after Donald Trump sparked a speculative and controversial crypto frenzy — by launching namesake digital tokens in the run-up to his presidential inauguration — an upstart ETF firm is pitching an exchange-traded fund that will go all-in on the branded Trump coin.

The Trump Token craze sparks ETF applications, testing the boundaries of SEC regulation.