The CBOE United States Stock Exchange incorporated today the funds quoted in the stock market (ETF) based on Dogecoin cryptocurrencies (Doge) and XRP.
Rex Shares and Osprey Funds investment firms jointly manage both instruments. According to him release Of the companies, the rex-osprey Doge ETF, which operates under the Ticker Doje, is positioned as “the first Dogecoin ETF that provides direct exposure to the cash” to the memecoin.
Investors now operate with this ETF that It offers exposure to Dogecoin through traditional brokerage accountsin addition to other financial products, they say.
On the other hand, the Rex-OSPREY XRP ETF, with Ticker XRPR, provides exposure to XRP. Unlike Doge’s background, this maintains most of its assets directly in XRP in cash, While investing the rest in stock -sought products backed by XRP.
Although the statement insists that the new funds offer “cash exposure”, it is not really about ETF spot in the same sense as those of Bitcoin (BTC) or Ether (ETH) approved by the SEC. The key difference is that these products are structured under the 1940 investment act of 1940, more similar to a mutual background, and not under the 1933 securities such as classic ETF spot.
In addition, in the case of the XRPR, part of the portfolio will be invested in other products linked to XRP, which implies that not all exposure is direct.
In practice, Rex-OSPREY takes advantage of the “spot” label as a marketing resource to associate its launch to the prestige of the Bitcoin and Ether ETF, although the mechanics and the level of real exposure are different.
Now, as cryptootics has explained it, the market is attentive to know whether or not the ETF spot that have been requested on these and other cryptocurrencies.