The launch of the XRP ETF from REX-Osprey is expected this week following delays in previous days. The event has drawn attention from both ETF market professionals and journalists.
Details of the Launch of XRP ETF REX-Osprey
The XRP ETF under the ticker XRPR from REX-Osprey is set to launch this business week. This will be the first U.S. ETF providing investors direct access to the third-largest cryptocurrency by market cap, XRP.
Clarifications from Experts
Eleanor Terrett from Fox Business shared details indicating that this financial vehicle will operate as a 'spot ETF with extras.' According to her, the product will hold real XRP, along with cash, Treasuries, and some derivatives. She noted that the ETF will be more regulated than traditional spot products.
Market Reaction to ETF Launch
Despite the announcement from REX-Osprey, there has been no significant impact on the price of XRP, which has fallen over 6% from its peak of $3.19. Currently, XRP continues to struggle to maintain key support below $3.
The launch of the XRP ETF from REX-Osprey represents a significant event for the cryptocurrency market and may draw investor attention to XRP amidst ongoing uncertainty with other ETF applications.
