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US investors now have access to the REX-Osprey ETF (XRPR), which is a US-listed ETF that gives spot exposure to Ripple’s XRP.
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REX shares, in partnership Osprey Funds has launched XRPR within a Registered Investment Company framework (RIC) governed by Investment Company Act of 1940
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Beyond the XRPR ETF, several large issuers are in the pipeline with spot XRP applications, with final decisions deadlines in October
Investors in the United States now have access to the REX-Osprey spot XRP XRP (ticker:XRPR) ETF.
A Dogecoin ETF was also launched alongside it, marking a major milestone beyond Bitcoin and Ethereum for altcoins.
REX Shares has launched XRPR in partnership with Osprey Funds under a Registered Investment Company framework (RIC) governed by Investment Company Act of 1980.
The fund aims to hold a large portion of its assets in spot XRP. It is not a pure spot product, as it may also allocate some assets to other exchange traded products backed by the XRP and use derivatives under certain circumstances.
Wave of ETF applications
The XRP Community seems to have a great deal to look forward to in the near future.
The US Securities and Exchange Commission has recently approved changes to the rules that simplify how spot crypto ETFs are listed. Certain exchanges can now adopt generic listing standards.
Then, in addition to XRPR applications, several large issuers are in the process of evaluating XRP ETFs, with deadlines for final decisions in October. Grayscale, 21Shares Bitwise, WisdomTree Franklin Templeton and CoinShares are among the notable names.
The availability of derivative instruments has also increased. The CME Group announced its intention to list XRP options, with a start date of October 13 pending regulatory approval.
A series of recent court rulings have lifted the legal cloud that hung over Ripple, removing any uncertainty about legal matters which had previously discouraged ETF issuers to pursue an XRP-based product.
Related XRP and Dogecoin to Arrive on U.S. Markets under 1940 Act Rules
XRP is currently trading at $3.12 and has gained approximately 3.5% over the last 24 hour.
If XRPR or DOJE sees strong demand, this could signal to SEC that the market has matured and increase the odds for the SEC to approve other major spot XRP applications in October.
XRP is firmly stepping into the traditional finance world with its XRPR debut, expanding derivatives and looming applications for ETFs.
Related XRP ETFs: Is Wall Street finally paying attention?
