Funding managers Rex Shares and Osprey Funds have filed to checklist an exchange-traded fund (ETF) monitoring the worth 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 not less than 80% of its property in MOVE or associated devices, utilizing a mixture of direct holdings and derivatives, based on a latest submitting with the U.S. Securities and Alternate Fee (SEC).
Rex Shares, an ETF issuer, has prior to now 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 variety of lawsuits and investigations into cryptocurrency corporations, and has been displaying a somewhat 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, might be accredited by the regulator.
MOVE is up 5% within the final 24-hours, nearing 50 cents.
