The fervor surrounding the much-anticipated debonair entry of the U.S.’s first XRP ETF is palpable as the avant-garde REX-Osprey rightsizes its rollout. What a delightful spectacle of regulatory serendipity!
REX-Osprey Prepares to Launch the First-Ever US Spot XRP ETF
Anticipation for the nonce of 21st-century finance-our very own fashionable spot XRP exchange-traded fund-has reached a crescendo following REX Shares’s chatty disclosure via the ushers of social media on the 15th of September:
The REX-Osprey XRP ETF, bravely christened XRPR, is the trailblazer to debut this week! It offers investors spot exposure to the third largest cryptocurrency by market cap, XRP. 🚀
This announcement succour to a regulatory expedition launched at the stroke of the year, with the REX-Osprey offering its registration statement on 21st January 2025, which provides a delightful vignette to those fond of investing theatrics. This particular manoeuver, under the dignified auspices of the Investment Company Act of 1940, is quite the nuance compared to the more provincial approach laid out by the Securities Exchange Act of 1933.
The filing further illuminates the REX-Osprey’s intentions to mirror the performance of XRP, before considering the modest hindrance of fees and expenses. “The fund may also invest in derivatives,” it coyly divulges, “financial instruments whose value is derived from the value of XRP. These could include futures contracts or the more flirtatious swaps to caress the elusive market price of XRP.”
Market observers are coo’ing at this unique prefabration of finance. Nate Geraci, who presides over the treasury of Novadius Wealth Management with the discernment of a Viscount, muses:
A first-of-its-kind ETF offering spot XRP exposure poised to debut this week-REX-Osprey employing a charming regulatory sidestep via ’40 Act structure to charm the U.S. markets. Quite the conjuring trick, indeed! 💼
Geraci contemplates this XRP ETF venture as the “Tennis match for ’33 Act spot XRP ETF demand,” noting that the futures-oriented XRP ETFs are already cradling nearly a billion dollars in assets-a sum that might just have aroused envy in Scrooge McDuck himself.
Bloomberg’s own James Seyffart slices through the hype, elucidating: “This, dear friends, is not a ‘pure’ spot. It shall embrace the spot directly and unabashedly embraces global spot XRP ETFs to supplement its exposure. Prudence dictates that while derivatives may be brought in for additional exposure, they are certainly not the star of this financial orchestra.”
Some critics furrow their brows at the fact that this Xylophone rhapsody isn’t entirely spot-based, yet the glitterati muse that even a slightly cooked asset lends undeniable charm to the thorough ousting of digital asset ETFs in this grand old land of Uncle Sam.
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2025-09-17 03:08