REX and Osprey Crypto ETFs Approved for Launch Amid SEC Delays

News & Events

REX and Osprey ETFs Set to Launch After Clearing SEC Review

Several new cryptocurrency ETFs from REX and Osprey have passed the U.S. Securities and Exchange Commission's (SEC) 75-day review period, positioning the funds to begin trading this week. The lineup includes ETFs tracking Bonk, Trump, Bitcoin, XRP, and Dogecoin, according to Bloomberg Intelligence analyst Eric Balchunas.

SEC Approval Process

The ETFs were filed under the Investment Company Act of 1940, a structure that does not require direct investment in spot assets. Products structured under the '40 Act typically follow a smoother approval route compared to those filed under the Securities Act of 1933. The SEC's review process for '40 Act funds allows them to launch automatically after 75 days, unless the agency raises objections.

Balchunas noted that the new Doge ETF is expected to debut as early as Thursday. The timing of the launch depends on the exact regulatory classification of each product.

Broader ETF Regulatory Context

While the REX and Osprey ETFs are set to enter the market, the SEC has postponed decisions on several other high-profile applications. Firms such as Franklin Templeton, BlackRock, and Fidelity are still awaiting rulings on proposed crypto ETFs that would allow for staking features within the funds. The agency has extended its review period for these products, including proposed ETFs positioned around Ether, XRP, and Solana.

• SEC extended deadlines for BlackRock, Fidelity, and Franklin Templeton crypto ETF proposals
• Decision on Bitwise's Dogecoin ETF and Grayscale's Hedera ETF pushed to November 12

Regulatory Landscape Changes

Recent actions by the SEC have clarified some boundaries of its oversight. In May, the agency restated that certain blockchain tokens fall outside its jurisdiction. The SEC has also maintained that proof-of-stake blockchains, by themselves, do not automatically meet the criteria for securities regulation.

As the regulatory environment evolves, market participants continue to monitor new product launches and pending applications for additional guidance from U.S. authorities.

Related content