by Rubab Fatima
The new exchange-traded fund (ETF) is set to track the performance of the MOVE cryptocurrency, which REX Shares and Osprey Funds plan to launch on May 21, 2025, subject to regulatory approval.
The filing, which was submitted on Monday, says that the REX-Osprey MOVE ETF would be required to allocate at least 80 percent of its net assets plus any borrowed capital it allocates for investment purposes to the cryptocurrency through MOVE and other assets providing exposure to it.
REX Shares and Osprey Funds Tap into Crypto Market Boom
The ETF looks to offer an institutional and retail investors method of accessing MOVE through the ticker symbol “MOVE,” free of the complications involved with handling wallets, private keys or direct involvement with cryptocurrency exchanges.
Created by Movement Labs, MOVE was launched December 9, 2024, and the ETF will track the digital asset. The cryptocurrency is generating buzz for its potential use cases and the novel blockchain technology that supports a multitude of use cases.
MOVE has seen a spike of investors that don’t just look at to the token’s fundamentals but its future as the native currency of the Movement layer two network as a good investment since launch. The aim is to capitalize on the rising consumer demand for crypto as a financial product.
With the entrance of traditional giants such as BlackRock and Fidelity the digital asset revolution is able to push REX Shares and Osprey Funds forward into the forefront of the crypto space, blending traditional finance with the newest blockchain tech.
MOVE Token Faces Price Dip Despite ETF Filing Announcement
A steppingstone to the growing cryptocurrency marketplace, the MOVE ETF opens a bridge between traditional investment options and the crypto world, REX Shares representative added.
Moving towards crypto investment products becoming the norm, this ETF is a simple and secure way for investors to get exposure to MOVE without the technical complexities that come with cryptocurrency ownership. The blame was in vain, as even at the time of filing’s announcement, the MOVE token lost around 3.16 percent in the past 24 hours.
The downside of cryptocurrencies is best exemplified by the markets being unpredictable and new financial products such as the MOVE ETF, although it’s a good thing for the market, not all of them meaning that if people buy something other than their auto trading bots, prices don’t necessarily grow immediately.
Analysts are keen to discover whether the new ETF will dampen the broader MOVE token’s price or whether it will continue to be volatile in crypto markets. While there is expectation from many that the MOVE token will see renewed growth, due to the convincing potential of Movement’s layer two solution, the market is still quite uncertain.
The launch of REX-Osprey MOVE ETF highlights simultaneous tension pitting traditional financial markets against the crypto space. Investors and market watchers alike are relieved to have time to watch how the ETF looks to impact both the price of MOVE and cryptocurrency trends in general as the ETF nears its May launch date. The REX-Osprey MOVE ETF preliminary prospectus may be obtained for more information by visiting the SEC filing.
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