Summary
- Rex-Osprey XRP (XRP) ETF is expected to launch on the 18th.
- The ETF is not a pure spot ETF, and it is structured to secure exposure by directly holding spot and other spot ETFs.
- This ETF structure differs from existing Bitcoin (BTC), Ethereum (ETH) spot ETFs, and it said it is a workaround approach to quickly pass the SEC approval process.
On the 15th (local time), Bloomberg ETF analyst James Seyffart said that the Rex-Osprey XRP exchange-traded fund (ETF), expected to launch this Thursday (18th), "is not a pure spot ETF."\nHe said, "This ETF is structured to obtain exposure by directly holding XRP spot and other XRP spot ETFs around the world," and explained, "The documents also mention the option to add exposure through derivatives if necessary, but this is not the primary method."\nEarlier, he pointed out that this XRP ETF adopts a different structure from existing Bitcoin (BTC) and Ethereum (ETH) spot ETFs, and analyzed that it is a kind of workaround approach to more quickly pass the Securities and Exchange Commission (SEC) approval process.\n
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![[Exclusive] FSS to examine ZKsync coin that surged '1,000%' in three hours](https://media.bloomingbit.io/PROD/news/1da9856b-df8a-4ffc-83b8-587621c4af9f.webp?w=250)
