REX Shares to Launch First US Spot XRP ETF
REX Shares and Osprey Funds plan to launch the first spot XRP ETF in the US this week. The ETF will trade under the ticker XRPR. It aims to track the price of XRP through various investments, including swap agreements and derivatives.
The company said the fund will invest at least 80% of its assets in XRP and related products. This includes exchange-traded products that offer exposure to Bitcoin and Ethereum. This mix means the ETF is not a “pure spot” XRP product, according to Bloomberg analyst James Seyffart.
Possible Launch Date and Additional ETF
REX Shares has not confirmed the exact launch date. However, Bloomberg analyst Eric Balchunas expects the XRP ETF to go live as early as Thursday. On the same day, REX Shares also plans to launch a Dogecoin ETF.
Background on REX Shares and Crypto ETFs
REX Shares and Osprey Funds have experience launching unique crypto ETFs. In July 2023, they launched the REX-Osprey Solana Staking ETF (SSK). It was the first US-listed fund to offer direct exposure to Solana and staking rewards.
At the time of publication, XRP trades near $3, down 2% in the last 24 hours.
