Markets, Move, ETF The proposed REX-Osprey MOVE ETF would make investments not less than 80% of its belongings in MOVE or associated devices.
Investment managers Rex Shares and Osprey Funds have filed to listing an exchange-traded fund (ETF) monitoring the worth efficiency of Movement Networks’ MOVE.
The Ethereum layer-2 community’s mainnet, which is constructed utilizing MoveVM, is predicted to launch on Monday.
The proposed REX-Osprey MOVE ETF would make investments not less than 80% of its belongings in MOVE or associated devices, utilizing a mixture of direct holdings and derivatives, in line with a current filing with the U.S. Securities and Exchange Commission (SEC).
Rex Shares, an ETF issuer, has previously filed to launch funds with crypto asset supervisor Osprey Funds, together with choices with publicity to memecoins like TRUMP, BONK, and DOGE.
The filings got here after Donald Trump’s second administration began earlier this yr, with the brand new President appointing SEC commissioner Mark Uyeda as performing SEC Chair. The regulator has since dropped a lot of lawsuits and investigations into cryptocurrency companies, and has been displaying a somewhat pro-crypto stance.
It’s unclear whether or not the REX-Osprey MOVE ETF, or another ETF filed by the funding managers providing cryptocurrency publicity, can be accepted by the regulator.
MOVE is up 5% within the final 24-hours, nearing 50 cents.
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