Expert Reveals New Launch Date for REX-Osprey XRP ETF

The launch of the REX-Osprey XRP ETF, initially slated for Friday, has been postponed to a later date. 

Popular Bloomberg ETF analyst James Seyffart made this known in a recent update. Early reports indicated that the REX-Osprey XRP ETF was slated for a September 12 launch, following what appeared to be tacit approval from the U.S. SEC. 

However, Seyffart stressed that a more realistic timeline for the launch is next week, noting that the REX Shares and Osprey Funds ETFs tied to XRP and Dogecoin are expected to go live then. 

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Seyffart’s colleague, Eric Balchunas, also confirmed the development in a separate X post. He indicated that the launch has been pushed back again. Recall that the ETFs were initially expected to debut on September 11, before being pushed back to the following day. 

Will REX-Osprey XRP ETF Launch Next Week?

In his latest update, Balchunas claimed that the launch is likely to occur around the middle of next week, probably on Thursday, September 18. It is worth noting that Balchunas’ update is specifically for the REX-Osprey DOGE ETF ($DOJE). 

Earlier, he indicated that the REX-Osprey DOGE ETF would debut in the U.S. ahead of other proposed crypto ETFs, such as the XRP Fund. At the time, he claimed the XRP fund and other ETFs from the issuer will launch in subsequent weeks after $DOJE rolls out. 

However, given the repeated delays, it is now uncertain whether the team will be able to maintain its original plan of launching the Dogecoin ETF before the XRP product. 

REX-Osprey Crypto ETFs 

For context, REX Shares and Osprey Funds are pushing to roll out multiple ETFs focused on cryptocurrencies, such as XRP, Bitcoin, Ethereum, Dogecoin, and others. To accelerate approval, they filed an effective prospectus for the products under the 1940 Investment Act. 

Unlike the REX-Osprey SOL + Staking ETF (SSK), which was initially structured as a C-corporation, the upcoming ETFs from the team will be organized as Registered Investment Companies (RICs). 

First Spot XRP ETF? 

Although many in the community have called the upcoming REX-Osprey XRP ETF the first spot product tied to the token, its structure indicates it may not be an actual spot ETF. 

According to the filing, the fund will invest at least 80% of its assets in XRP. Additionally, no more than 25% of the assets will be channeled into a Cayman Islands subsidiary in compliance with the tax rules governing RICs. 

Notably, the remaining assets will invest in Money Market Funds, XRP futures and swaps, U.S. Treasuries, non-U.S. crypto ETFs, and other cash equivalents. 

With the launch date of the REX-Osprey XRP ETF uncertain, investors await the SEC’s ruling on actual spot XRP ETF applications. The agency is reviewing at least 10 proposals from issuers, including Franklin, Canary, and Bitwise, but has repeatedly delayed its decisions. The SEC now faces an October deadline to approve or deny some of these applications.