Summary
- REX Shares applied for ETFs under the Investment Company Act of 1940, and due to the automatic approval process, they could be launched more quickly.
- Thanks to this process, REX Shares ETFs are likely to be released before Ripple, Solana (SOL), and Litecoin (LTC) ETFs.
- Eric Balchunas added that these ETFs, including various cryptocurrencies, could be launched by early April next year.
U.S. asset management company REX Shares has applied for seven exchange-traded funds (ETFs), including Dogecoin (DOGE) and Official Trump (TRUMP). Eric Balchunas, Bloomberg's senior ETF analyst, stated on the 21st (local time) via X (formerly Twitter) that "theoretically, these ETFs could hit the market before Ripple, Solana (SOL), and Litecoin (LTC) ETFs."
He added, "REX Shares applied for these ETFs under the 'Investment Company Act of 1940,' which features an automatic approval process approximately 75 days later if there are no special issues," noting that "while Ripple, SOL, and LTC ETFs have a 240-day review period, REX Shares ETFs could be launched as early as early April this year."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
