REX-Osprey's DOGE ETF and XRP ETF offering spot exposure will list today

According to US ETF provider REX SharesREXShare, the first batch of US ETFs offering XRP and DOGE spot exposure issued in partnership with Osprey Funds will be listed on the CBOE on September 18, providing investors with a way to invest in these digital assets through the ETF structure. It is worth noting that the REX-Osprey DOGE ETF and XRP ETF are not typical spot ETFs. They do not directly hold all DOGE and XRP tokens, but also hold other assets such as cash, US Treasury bonds and even other ETFs. The approval process for such products is very different, as there is no need to obtain express approval from the US SEC, and the application takes effect automatically after 75 days. According to REX-Osprey's SEC filing, the two ETFs will invest at least 80% of their net assets in reference assets and other assets that provide exposure to the reference assets, and at least 40% of their assets are directly invested in other ETFs and ETP shares, including non-U.S. ETPs.