Dogecoin and Trump ETFs Could Arrive by April: Analysts

Economic

Summary:

Wall Street could soon get a dose of crypto chaos, as the first-ever exchange-traded funds (ETFs) for Dogecoin (DOGE) and the newly minted Official Trump (TRUMP) meme coin may debut as early as April, according to analysts.

Bloomberg senior ETF analyst Eric Balchunas flagged the accelerated timeline after fellow analyst James Seyffart revealed Miami-based REX Shares’ ETF filings on Tuesday.

REX Shares has filed proposals for DOGE and TRUMP ETFs, alongside Bonk (BONK), Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP (XRP).

If they're greenlit, these ETFs could bridge meme coins and traditional finance by giving investors access to internet-born cultural icons through standard brokerage accounts.

“These are '40 Act filings and so (theoretically, if they aren't disapproved) could hit the market in early April...” Balchunas wrote on X.

He was referring to the 1940 Act, which governs funds combining assets and derivatives. Filings submitted under the Act also enjoy a streamlined 75-day review process.

By leveraging this process, DOGE and TRUMP ETFs could leapfrog other filings—like XRP and Solana ETFs—which require a cumbersome 240-day timeline under 19b-4 filing rules.

“The crypto market survives on the principles of innovation and cultural relevance,” Saravanan Pandian, CEO of KoinBX, told Decrypt. “Dogecoin, with its ever-growing adoption, and the emergence of meme-driven financial instruments, reflect a shift in how the new generation interacts with investments.”

Pandian sees tremendous potential in the meme coin ETFs, “I agree that a Dogecoin ETF could arrive earlier than expected if the regulatory landscape aligns, and we could see these trends formalized as early as April, sparking new opportunities in the digital asset space.”

Dogecoin, once a tongue-in-cheek creation from 2013, has grown into a global crypto heavyweight, driven by strong liquidity and cultural clout.

Endorsed by figures such as Tesla CEO and the Department of Government Efficiency (DOGE) head Elon Musk, the coin has consistently dominated meme coin trading volumes.

As with TRUMP, the meme coin inspired by the sitting U.S. President Donald Trump, has quickly climbed the ranks, currently trading at $43.24—up 21.1% in the last 24 hours, according to Coingecko data.

Litecoin has also seen renewed interest following Canary Capital’s amendment to its S-1 registration with the SEC earlier this month.

Balchunas and Seyffart noted that these updates, often indicative of regulatory engagement, suggest momentum toward approval.

Regulatory Shifts Bring Optimism for Meme Coin ETFs

The U.S. Securities and Exchange Commission (SEC) is undergoing significant leadership changes, with pro-crypto Acting Chair Mark Uyeda stepping in following Gary Gensler’s resignation.

Uyeda’s arrival has sparked hope across the crypto industry for a more favorable approach toward innovative crypto products, including the proposed meme coin ETFs.

The inclusion of TRUMP meme coin in these filings presents a unique challenge for the regulatory agency as it raises questions about how the SEC will handle a product tied to the President’s meme coin.

"While Trump memecoin saw a brief dip in prices yesterday, I am positive the Trump ETF will happen soon, owing to his position as the President of the United States of America,” Pandian stated.

Source:cryptonews

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Michelle

Economic

Forex

USD/JPY Technical Analysis

The US Dollar found support at 154.80 against the Japanese Yen. USD/JPY surpassed 155.50 and 155.80 to enter a positive zone.

Looking at the 4-hour chart, the pair was able to clear the 38.2% Fib retracement level of the downward move from the 158.87 swing high to the 154.77 low. It cleared the 200 simple moving average (green, 4-hour) and traded close to the 100 simple moving average (red, 4-hour).

On the upside, the pair seems to be facing hurdles near the 156.80 level. It is close to the 50% Fib retracement level of the downward move from the 158.87 swing high to the 154.77 low.

The next major resistance is near the 157.30 level. A close above the 157.30 level could set the tone for another increase. In the stated case, the pair could even clear the 158.00 resistance.

On the downside, immediate support sits near the 155.80 level. The next key support sits near the 155.50 level. Any more losses could send the pair toward the 155.00 level.

Looking at GBP/USD, the pair started a short-term recovery wave but the bears might remain active near the 1.2400 resistance.

Source: ACTIONFOREX

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S&P Global Inc.

Data Interpretation

January 24 S&P PMI Data Highlights:

Manufacturing PMI (preliminary): 49.8, a 12-month high (previous: 47.8).

Services PMI (preliminary): 50.4, a 6-month low (previous: 50.8).

Composite PMI (preliminary): 50.3, a 5-month high (previous: 50.2).

The latest PMI report shows the Composite Output Index at 50.3, marking a fourth consecutive month of marginal growth in private sector output. Signs of gradual economic recovery align with a robust labor market, where unemployment remains at a low 4.0% with strong employment growth. End-of-year promotions and tax cuts have also boosted consumer spending.

Services Sector:

The Services PMI fell to 50.4 in January from 50.8 in December, reaching a 6-month low but remaining in expansion territory. Growth was supported by increased overseas sales and rising demand. However, employment declined for a second consecutive month, easing capacity pressures. Rising material, transportation, and wage costs drove input prices to their highest levels since September 2024, pushing output price inflation to a 6-month high. Despite uncertainty around interest rates and inflation, optimism in the services sector remains intact.

Manufacturing Sector:

The Manufacturing PMI rose to 49.8 in January from 47.8 in December, its highest level in over a year, approaching expansion territory. After 13 months of contraction, manufacturing activity is stabilizing. Renewed business confidence has led some firms to resume hiring and return to profitability, with production recovering gradually. However, export orders continued to decline, and new business volumes fell slightly. The sector still faces challenges with layoffs and inventory reductions, though downward pressure has eased overall. Rising input costs pushed sales prices higher, while persistent supply chain issues weighed on operations.

Inflationary and Operational Challenges:

Economic activity in January showed recovery signals, but inflationary pressures intensified. Average input costs rose at a faster pace, pushing output prices to a 6-month high. Supply chain bottlenecks, higher transportation costs, and increased raw material prices further squeezed profit margins. Employment in both manufacturing and services sectors declined, reflecting cautious hiring amid fluctuating demand.

Outlook:

While performance in the services and manufacturing sectors has improved, overall business confidence in the private sector has dipped compared to December. High interest rates and persistent inflation remain key concerns, along with weak overseas demand and ongoing supply chain disruptions. Nevertheless, with inflation easing and potential rate cuts on the horizon, economic recovery is expected to gain further momentum.

Australia January PMI

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Owen Li

Economic

In focus today

He is expected to issue several executive orders building on his current momentum, leading to US news continuing to dominate the headlines as markets and world leaders alike are left navigating the implications.

In the euro area, we receive consumer confidence data for January, which will be very interesting. Following a continuous upward trend over the past two years, consumer confidence declined in both November and December. Since private consumption is anticipated to be the primary growth driver this year, consumer sentiment will be crucial for the economic outlook.

Norges Bank (NB) is highly expected to stay on hold at 4.5% today and signal that the first rate cut will most likely be delivered in March. December’s core inflation likely relieves NB after November’s spike, indicating continued disinflation. However, global rates, NOK, and oil prices suggest upside risk to December’s rate path. NB is expected to remain vague on the outlook beyond March.

Overnight in Japan, we will receive both CPI and PMI data for December ahead of the Bank of Japan meeting early morning. Tokyo inflation data indicates price pressures have eased a bit in December. The economic recovery has been on track for a while and inflation close to target. We expect the BoJ will hike its policy rate by 25bp, which is also largely priced in by investors now.

Economic and market news

What happened yesterday

In the US, President Trump told Russian President Putin to reach a deal in Ukraine or be faced by increased sanctions from the US. This marks the first comment by the president on the war in Ukraine. Overnight Trump halted more than USD 300bn in US green infrastructure funding, while paving the way for a USD 500bn private-sector investment in AI infrastructure. He also disclosed that his administration was currently discussing a 10% tariff on China, as well as saying the EU will get tariffs due to a “troubling” trade surplus with the US.

Equities: Global equities rose yesterday, marking the seventh consecutive day of gains, with the MSCI World Index reaching a new all-time high. This is noteworthy given the widespread caution and predictions of volatility surrounding the inauguration of the US president, which have not materialised. Instead, there has been a steady increase, and those who reduced risk beforehand would have missed out on a 4% equity return, equivalent to half a year’s average return in just seven days. This could serve as a reminder of not being too cautious about underweighting risk during periods when macroeconomic, microeconomic, and monetary policies are highly supportive, even when political issues dominate 90% of the media coverage.

In the US yesterday, the Dow was up by 0.3%, the S&P 500 by 0.6%, the Nasdaq by 1.3%, and the Russell 2000 was down by 0.6%. This morning presents a mixed picture in Asia. Earlier, Chinese stocks performed better following comments about increased public support for the equity markets, but this effect has since faded. US and European futures are slightly lower this morning.

FI: There was modest movement in global bond yields yesterday as 2Y and 10Y US Treasuries rose a few bp. In the European market there was also modest movement in bond yields. 2Y and 10Y German government bonds also just moved a few bp. Furthermore, the spread between the semi-core vs. Germany as well as periphery vs. Germany continue to tighten. Hence, the 10Y Italy vs. Germany spread is close to breaking through 100bp, while the 10Y French vs. German 10Y yield spread has stabilised and is slowly moving towards the 70bp-level. Finally, the Bund ASW-spread has also been rangebound at 0bp to -2bp.

FX: NOK rose and JPY lost ground yesterday ahead of monetary policy decisions from Norges Bank and Bank of Japan with the latter set to hike interest rates tomorrow. EUR/USD was steady yesterday just above 1.04.

Source:action forex

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Cohen

Political

Choi made the remarks during a meeting on external economic issues with government officials, including the foreign and industry ministers, instructing them to review Korea's countermeasures against issues that could significantly impact the economy.

The acting president also emphasized the importance of maintaining close communication with businesses as the government responds to the new U.S. policies.

At Friday's meeting, participants evaluated both the direct and indirect impacts of the Trump administration's economic policies on the Korean economy, including U.S.-centered trade policies and the expanded use of traditional fossil fuels, his office said.

Shortly after taking office, Trump signed a memorandum on an "America First" trade policy, calling for a review of existing U.S. trade agreements to seek "reciprocal and mutually advantageous" concessions with free trade partners.

Source: Koreatimes

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Owen Li

Economic

Most currency pairs remain within their previous sideways corridors, awaiting new directives from the newly inaugurated president.

USD/JPY

The USD/JPY currency pair has once again tested the important range of 155.00–154.80. The inability of sellers to hold the price below 155.00 for two weeks could lead to another test of recent highs in the 157.00–157.80 zone.

Technical analysis of USD/JPY indicates a sideways movement of the pair. At present, the price is at the upper boundary of a five-day corridor. If it rebounds from the 156.70 level, a decline towards the 155.20–155.00 marks is possible.

A consolidation above 157.00 could result in an update of the year’s maximum at 158.90.

Key events influencing USD/JPY movements:

Today at 16:30 (GMT+2): Initial Jobless Claims in the United States.Today at 19:00 (GMT+2): Speech by US President Donald Trump.Tomorrow at 05:30 (GMT+2): Bank of Japan’s Monetary Policy Report.Tomorrow at 06:00 (GMT+2): Bank of Japan Interest Rate Decision.

USD/CAD

Range trading with false boundary breakouts is also observed in the USD/CAD pair. On Monday, the price updated its January low at 1.4280 but failed to develop a full-fledged downward correction and consolidate below this level. In the upcoming trading sessions, another approach to the 1.4420–1.4450 range is possible.

The nature of the price exit from the four-week range of 1.4300–1.4500 could provide more clues about the medium-term movement of USD/CAD.

Key events influencing USD/CAD pricing today:

Today at 16:30 (GMT+2): Retail Sales Volume in Canada.Today at 16:30 (GMT+2): US Crude Oil Inventories.

Dollar Range Trading Awaits Trump’s Directives_1

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Source:action forex

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Justin

Economic

The order sets the stage for new policies to advance innovation while removing what the administration views as unnecessary barriers.

According to the order, published on the White House website, the U.S. must build AI systems free from "ideological bias or engineered social agendas." The goal is to maintain America’s dominance in AI while fostering economic competitiveness, enhancing national security, and promoting human flourishing.

The order tasks top officials, including the President’s advisors on science, technology, and national security, to draft a detailed action plan within 180 days. This plan will outline steps to develop AI systems aligned with the administration's goals. The administration emphasized the importance of clear, streamlined government policies in achieving these objectives.

The new directive revokes the previous Executive Order 14110, signed in October 2023, which focused on “safe, secure, and trustworthy” AI. It mandates a review of existing AI policies to identify and eliminate rules that may hinder innovation or conflict with the new approach. Agencies are instructed to suspend, revise, or rescind such policies wherever necessary.

In addition, the order tasks the Office of Management and Budget (OMB) with updating related directives to align with the new AI-focused strategy within 60 days.

The order reflects the administration’s emphasis on bolstering the U.S.'s competitive edge in emerging technologies. Trump framed the move as critical to ensuring the nation remains a leader in AI innovation in the global landscape.

Trump had unveiled a $500 billion joint venture, named Stargate on Tuesday, to develop a new artificial intelligence infrastructure in the U.S. The investment will be used to build extensive AI data centers and electricity generation facilities in Texas over the next four years, significantly bolstering the nation's AI capabilities.

The project involves OpenAI, Oracle Corporation (NYSE:ORCL), SoftBank Group Corp. (TYO:9984), Microsoft Corporation (NASDAQ:MSFT), NVIDIA Corporation (NASDAQ:NVDA), and other tech leaders as investors.