Cyber Hornet applies for S&P500·XRP hybrid ETF…US's first hybrid structure

Minseung Kang

Summary

Cyber Hornet has applied to the U.S. Securities and Exchange Commission for a hybrid ETF that combines S&P500 and XRP.
The ETF is composed of S&P500 constituents 75% and a specific crypto asset 25%, and it noted that XRP is included for the first time in a U.S. S&P500-linked ETF.
It evaluated that if the hybrid ETF is approved, expanded participation from institutional investors, pension funds, and hedge funds is expected.

U.S. asset manager Cyber Hornet applied for a new exchange-traded fund (ETF) that combines the S&P500 index and XRP.

On the 26th (local time), according to crypto-focused media CoinPedia, Cyber Hornet submitted a total of three hybrid ETFs to the U.S. Securities and Exchange Commission (SEC). Each product consists of S&P500 constituents 75% and a specific crypto asset 25%. Specifically, ▲S&P500·Ethereum (ETH) ETF (ticker EEE), ▲S&P500·Solana (SOL) ETF (ticker SSS), and ▲S&P500·XRP (XRP) ETF (ticker XXX).

The market is noting that through this application, XRP has been included for the first time in a U.S. S&P500-linked ETF. The outlet evaluated, "If the hybrid ETF is approved, it could lead to increased participation from institutional investors, pension funds, and hedge funds."

Meanwhile, in October, review schedules for several XRP ETFs are planned, including Grayscale (18th), 21Shares (19th), Bitwise (20th), CoinShares·Canary Capital (23rd), and WisdomTree (24th), and there is discussion that some may be concluded collectively.

XRP