Cyber Hornet Files With SEC for ETF Offering Exposure to XRP

Cyber Hornet ETFs seeks regulatory approval to list and trade an investment product offering exposure to XRP and the S&P 500.

The firm submitted the filing with the US Securities and Exchange Commission on September 26, seeking to launch another XRP-constituted ETF. According to the filing, the fund will provide holders with a combined exposure to the S&P 500 and XRP.

Specifically, the Cyber Hornet S&P 500 and XRP 75/25 Strategy ETF will trade on the Nasdaq stock exchange under the ticker “XXX.” As its name suggests, it will provide a 75/25 exposure to investors seeking a blend of the traditional and cryptocurrency world.

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Another XRP ETF on the US SEC’s Desk

For context, the XXX ETF would weight 25% XRP and 75% S&P 500. Cyber Hornet would rebalance the funds monthly to ensure it maintains this benchmark and expose holders accordingly. The filing also states that it holds the right to change this percentage spread in the future.

Meanwhile, the 25% XRP constituent will be held in both XRP spot and futures. The asset manager can also invest in exchange-traded funds tied to XRP to ensure that the portion accurately tracks the performance of the asset.

If approved, the XXX ETF will charge an annual management fee of 0.95%. This means that an investor with $10,000 in the fund will incur a cost of $100 in one year and $312 in three years.

Moreover, eligible investors can purchase up to 25,000 shares of the XXX ETF directly. Other interested parties can buy the funds in the open market.

Remarkably, the Cyber Hornet S&P 500 and XRP 75/25 Strategy ETF filing follows a growing interest in XRP on Wall Street. Earlier XRP-focused ETF launches have proven successful, with asset managers now exploring ways to combine cryptocurrency with traditional assets.

Cyber Hornet Also Filed for Ethereum and Solana ETFs

The firm also filed with the US SEC to file for a similar fund for Ethereum and Solana. The Cyber Hornet S&P 500 and Ethereum 75/25 Strategy ETF and the Cyber Hornet S&P 500 and Solana 75/25 Strategy ETF will list alongside the XRP product on Nasdaq, pending approval.

They also follow the same distribution, management fees, and asset management tactics. However, the funds will buy and sell Ethereum on Coinbase and Kraken.

Meanwhile, Cyber Hornet offers this kind of product for Bitcoin, with ticker “BBB.” The fund has rallied 23% over the past year, trading at $30.36. This batch of applications suggests expanding cryptocurrency adoption beyond the crypto leader.