REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
US-based REX Shares has stirred important anticipation within the crypto neighborhood by saying the launch of its Dogecoin (DOGE) and XRP exchange-traded funds (ETFs) on September 18.
Imminent Launch Of REX Shares’ DOGE And XRP ETFs?
In a post on social media platform X (previously Twitter), REX Shares promoted the upcoming launch of the REX-Osprey XRP ETF, beneath the ticker image XRPR, and the REX-Osprey DOGE ETF, designated as DOJE.
These ETFs can probably be the primary exchange-traded merchandise that permit US traders to entry Dogecoin and XRP. This may open new avenues for retail and institutional traders and improve demand, which may additional increase their costs.
Nate Geraci, co-founder of the ETF Institute, echoed REX Shares’ pleasure, emphasizing the importance of those merchandise. He declared, “First ever DOGE ETF, interval. First XRP ETF providing spot XRP publicity.”
Crypto ETF Surge In Coming Months
Bloomberg ETF specialists Eric Balchunas and James Seyffart have just lately projected that REX-Osprey’s choices may hit the market on Thursday, regardless of the SEC’s current extension of selections for different cryptocurrency ETFs.
The panorama for ETF approvals is additional difficult by the delayed modification for BlackRock’s Ethereum staking utility, which has additionally been postponed to October 30.
Balchunas attributes these delays to ongoing coordination between the SEC and exchanges like Cboe and NYSE concerning up to date itemizing requirements.
However, Balchunas anticipates that streamlined procedures, anticipated to be authorised in October, may result in a “flood of ETFs in all probability in a pair months,” considerably enhancing institutional adoption of cryptocurrency investments.
Despite the daring proclamation from REX Shares, the US SEC has but to formally affirm the approval of those ETFs or any related purposes from different companies searching for to supply direct publicity to the spot costs of those digital belongings.
Featured picture from DALL-E, chart from TradingView.com