Investment company REX Shares and Osprey Funds are launching an XRP exchange-traded fund, marking the first of its kind to debut in the United States.
In a post on X, the firms said the REX-Osprey XRP ETF, with the ticker symbol XRPR, is coming this week. The fund is different from other XRP ETF proposals that have been floated by other firms, as it is registered under the Investment Company Act of 1940 — a federal law that regulates investment funds that pool capital from investors to pursue a common investment strategy in an effort to protect investors from conflicts of interest and fraud.XRPR uses a similar legal structure as the REX Osprey SOL Staking ETF when it launched in June. The latest REX Osprey ETF filings tracking XRP and DOGE use some workarounds when compared to other XRP ETF proposals, said Bloomberg Intelligence Analyst James Seyffart.
The Rex-Osprey XRP ETF will mostly hold XRP directly and will invest at least 40% of its assets into shares of other ETFs related to XRP, according to a prospectus.
