7 hours ago
The archetypal exchange-traded funds (ETFs) offering vulnerability to XRP and dogecoin (DOGE) started trading successful the U.S. connected Thursday.
Products offered by Rex Shares and Osprey Funds listed connected the Cboe BZX exchange nether the tickers DOJE and XRPR and travel Rex-Osprey Solana ETF, which debuted successful July. DOJE was recently trading astatine $26.90 and XRPR astatine $25.73.
DOJE volition disagree somewhat from akin products for the different tokens, however, successful that it volition not clasp DOGE directly. Instead, it volition usage a Cayman Islands-based subsidiary to summation vulnerability done futures and different derivatives.
While XRPR is structured to clasp XRP directly, it volition besides put successful spot ETFs from extracurricular the U.S. to execute exposure, Bloomberg Intelligence expert James Seyffart wrote connected X.
XRP, the autochthonal token of the fiscal organization payments-focused web XRP Ledger, and memecoin DOGE are the third-largest and eighth largest crypto tokens by marketplace cap, according to CoinDesk data.
Spot crypto ETFs debuted successful the US. successful January 2024 aft galore years of rejections and delays by Securities and Exchange Commission (SEC). Bitcoin (BTC) funds were approved first, followed a fewer months aboriginal by ETFs offering spot vulnerability to ether (ETH).
Buying shares of ETFs offers vulnerability to assets without having to instrumentality ownership of the underlying plus themselves. As such, crypto ETFs connection a means of nonstop vulnerability to cryptocurrencies without having to interest astir storage, custody and truthful on, making them a much applicable and unafraid means of concern for deep-pocketed organization investors.
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