Dogecoin, Trump and BONK ETF; may get approval before XRP and Solana

Rex Shares, which manages $8 billion in assets, has applied for ETFs for TRUMP, Dogecoin, and BONK, allowing Bloomberg analysts to focus on the issue in detail. James Seyffart, well-known in the crypto world since last year, has provided important details about the application.
The assets will be stored in the Cayman Islands.
The Seyffart ETF application was submitted under the Investment Company Act of 1940 and stated that:
These products applied for under the 1940 Act have followed in the footsteps of cryptocurrency futures ETFs. Some derivatives will maintain positions. A subsidiary in the Cayman Islands will also hold supporting assets. We have seen this in commodity ETFs as well.
"XRP was acceptable before Solana and Litecoin"
Bloomberg's senior analyst Eric Balchunas also pointed out that these ETFs need to comply with the 1940 Act, which puts them ahead in time of the applications for XRP, Solana, and Litecoin.
"The details of the 1940 Act are important ... If these applications are approved, applications for XRP, Solana, and Litecoin may enter the market sooner than others. This one, as opposed to the SEC's 240-day deadline for other applications, requires a response within 75 days. Of course, the SEC's response to the parent coin ETF and its reaction is a big unknown, which also needs to be said. ”