Rex Shares And Osprey Funds Plan To Launch ETF Tracking MOVE Performance

According to PANews, investment management firms Rex Shares and Osprey Funds have submitted an application to list an ETF that tracks the price performance of MOVE, a product of Movement Networks. The mainnet of this Ethereum Layer 2 network, built using MoveVM, is expected to launch later on Monday. The application filed with the U.S. Securities and Exchange Commission (SEC) indicates that the proposed REX-Osprey MOVE ETF will allocate at least 80% of its assets to MOVE or related instruments, through direct holdings and derivatives. Rex Shares, known for issuing ETFs, has previously collaborated with Osprey Funds to submit applications for listing funds, including products related to meme coins such as TRUMP, BONK, and DOGE.