Investment firms Rex Shares and Osprey Funds have filed with the U.S. Securities and Exchange Commission to launch an exchange-traded fund tracking the price of Movement Network’s MOVE token. 💸
The proposed ETF would track MOVE, an Ethereum (ETH) layer-2 network built using MoveVM. According to the filing, the REX-Osprey MOVE ETF aims to allocate at least 80% of its assets to MOVE or related instruments.
MOVE (MOVE), launched on December 9, 2024, reached a peak fully diluted value of $14.5 billion, according to the filing, and had a market cap of $930 million as of March 4, 2025.
Recently launched crypto MOVE gets an ETF already
REX-Osprey MOVE ETF
Ticker/Fees: that
Effective Date: May 21, 2025MOVEment cryptocurrency was launched last Dec 9.
REX Osprey ETFs:
Preliminary prospectus:…
The fund may also use derivatives, including futures and swaps, to gain exposure to MOVE’s price performance. Additionally, it can invest in other crypto ETFs, including non-U.S. funds, and may allocate some assets to Bitcoin (BTC) and Ethereum ETFs based on market conditions.
The ETF would use a combination of direct holdings and derivatives to gain exposure to MOVE’s price performance.
Mainnet beta
Movement Network Foundation also announced the launch of its Public Mainnet Beta with $250 million in Total Value Locked from its Cornucopia program. The launch enables permissionless smart contract deployment, full user onboarding, and Ethereum settlement. 🚀
Developers and users can leverage MoveVM’s security and efficiency while accessing the network via the canonical Movement bridge powered by LayerZero. 🌉
This launch is done in hopes of securing a scalable environment for developers building on Move.
Other Rex Shares filings
Rex Shares has previously collaborated with Osprey Funds on filings for crypto-focused ETFs, including those tied to memecoins like TRUMP (TRUMP), BONK (BONK), and DOGE (DOGE). 🐶
The latest filing comes as the SEC, under acting Chair Mark Uyeda, has shifted toward a more crypto-friendly stance, dropping several lawsuits and investigations against digital asset firms.
The SEC has yet to approve any funds tracking newer crypto assets like MOVE. 🤔
MOVE is currently trading near $0.50. 📈
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2025-03-10 16:59