Funding managers Rex Shares and Osprey Funds have filed to listing an exchange-traded fund (ETF) monitoring the value efficiency of Motion Networks’ MOVE.
The Ethereum layer-2 community’s mainnet, which is constructed utilizing MoveVM, is anticipated to launch on Monday.
The proposed REX-Osprey MOVE ETF would make investments at the very least 80% of its belongings in MOVE or associated devices, utilizing a mixture of direct holdings and derivatives, based on a current submitting with the U.S. Securities and Trade Fee (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 appearing SEC Chair. The regulator has since dropped quite a lot of lawsuits and investigations into cryptocurrency companies, and has been exhibiting a fairly pro-crypto stance.
It’s unclear whether or not the REX-Osprey MOVE ETF, or every other ETF filed by the funding managers providing cryptocurrency publicity, will likely be authorised by the regulator.
MOVE is up 5% within the final 24-hours, nearing 50 cents.
