Rex Shares and Osprey Funds Submit Application for MOVE ETF
Investment managers Rex Shares and Osprey Funds have filed to list an exchange-traded fund (ETF) tracking the price performance of MOVE.
The key points include:
- The Ethereum layer-2 network's mainnet, built with MoveVM, is set to launch on Monday.
- The proposed REX-Osprey MOVE ETF aims to invest at least 80% of its assets in MOVE or related instruments, utilizing direct holdings and derivatives.
- The filing has been submitted to the U.S. Securities and Exchange Commission (SEC).
- Rex Shares previously collaborated with Osprey Funds to file for various funds, including those focused on memecoins.
- The SEC, under new leadership, has shown a pro-crypto stance by dropping several lawsuits against cryptocurrency firms.
- Approval of the REX-Osprey MOVE ETF remains uncertain.
- MOVE has increased by 5% in the last 24 hours, approaching 50 cents.