First US Spot XRP ETF Set To Debut This Week: All You Need To Know

REX Shares says it’ll listing the primary US exchange-traded fund providing spot publicity to XRP this week, buying and selling underneath the ticker XRPR. “The REX-Osprey XRP ETF is coming this week!” the issuer posted on X, including that the product would be the first US ETF to ship traders spot publicity, at present the third-largest cryptoasset by market worth.

XRP Makes Wall Street History

Unlike the SEC-approved spot bitcoin and ether merchandise—structured as ’33 Act commodity trusts—the REX-Osprey fund is being launched as a ’40 Act open-end ETF. That construction permits an ETF to function as a registered funding firm and might combine exposures, quite than holding solely a single commodity in a belief format. The SEC itself emphasizes that spot bitcoin and ether “ETPs” usually are not ’40 Act ETFs, underscoring the distinct regulatory regimes at play right here.

In its newest Form N-1A submitting, the fund is introduced alongside sister merchandise and described as searching for outcomes that correspond to the efficiency of the token. The principal technique commits to investing a minimum of 80% of web property in XRP and/or different property that present publicity to the token, both immediately or by way of a wholly-owned Cayman subsidiary.

The submitting additionally caps funding in that subsidiary at 25% of complete property. Creation and redemption can be found to approved contributors, with the fund reserving the precise to settle redemptions in money and noting a regular T+2 payout timeline, extendable to seven days underneath stress.

The prospectus additional permits the ETF to spend money on different funding corporations (together with ETFs) topic to Section 12(d)(1) limits and contemplates using derivatives as permitted underneath the ’40 Act—language that gives flexibility, however doesn’t make derivatives the first publicity.

Bloomberg’s James Seyffart, who tracks crypto ETPs, cautioned that the product is just not “pure” spot, explaining “it’ll maintain spot immediately and different spot XRP ETFs from around the globe to get its publicity.” He added: “The fund paperwork even have language that might enable derivatives utilization for publicity if wanted however that undoubtedly isn’t the first publicity methodology.”

ETF Store president Nate Geraci framed the launch as a regulatory maneuver enabled by the ’40 Act: “First ETF providing spot XRP publicity set to launch this week…REX-Osprey utilizing intelligent regulatory end-around by way of ‘40 Act construction to deliver this to market. Will be one other good litmus check for ‘33 Act spot XRP ETF demand. Futures-based XRP ETFs already nearing $1bil in property.”

Market Backdrop And Futures Momentum

The debut comes as derivatives set data. In late August, CME XRP futures surpassed $1 billion in open curiosity, the quickest tempo for any new contract on the venue, and trade commentators now peg US futures-based ETFs as nearing $1 billion in property—a related yardstick for gauging preliminary demand for spot publicity in an ETF wrapper.

A broader wave of ’33 Act spot proposals is also in the queue. Any eventual approvals of ’33 Act spot trusts would add a second, extra direct structural path to US spot publicity, alongside the REX-Osprey ’40 Act route.

Notably, REX-Osprey beforehand launched the Solana + Staking ETF (SSK) by way of a comparable framework—context for the way the agency is threading the regulatory needle. Separately, the issuer has guided {that a} Dogecoin ETF (DOJE) can be on deck this week, highlighting how different constructions are opening US markets to non-BTC/ETH property.

At press time, XRP traded at $3.00.