Key Takeaways
REX and Osprey crypto ETFs — including products tied to Bitcoin, XRP, Dogecoin, Bonk, and Trump token — have cleared the SEC’s 75-day review window.
Bloomberg’s Eric Balchunas says the funds will debut this week unless the SEC raises a last-minute objection.
Meanwhile, the SEC delayed decisions on rival ETF applications from Franklin Templeton, BlackRock, Fidelity, and others.
REX-Osprey Funds Near Market Debut
A new wave of cryptocurrency ETFs from REX Shares and Osprey Funds is expected to launch by Friday, Sept. 12, Bloomberg analyst Eric Balchunas told Cointelegraph.
The lineup includes:
REX-Osprey Bitcoin ETF
REX-Osprey XRP ETF
REX-Osprey Dogecoin ETF (DOJE)
REX-Osprey Bonk ETF
REX-Osprey Trump ETF
“These are filed under the Investment Company Act of 1940, which has a simpler path compared to ’33 Act spot ETFs,” Balchunas explained. “If the SEC doesn’t object within 75 days, the funds automatically go live.”
’40 Act vs. ’33 Act ETFs
Most U.S. ETFs are structured under the 1940 Act, functioning as open-end investment companies holding securities or futures. These differ from 1933 Act ETFs, which are typically used for physically backed products like spot Bitcoin or gold ETFs.
The Dogecoin ETF, for example, relies on a Cayman Islands subsidiary and derivatives exposure, rather than direct spot holdings.
SEC Postpones Rivals
While the REX-Osprey lineup advances, the SEC pushed back decisions on several high-profile applications:
Ether ETFs with staking features (Franklin Templeton, BlackRock, Fidelity)
XRP and Solana ETFs
Bitwise Dogecoin ETF and Grayscale Hedera ETF (new deadline: Nov. 12)
The delays follow recent SEC clarifications that proof-of-stake blockchains and certain liquid staking activities do not constitute securities — a shift that could reshape the regulatory landscape for token-based ETFs.
Outlook
Unless the SEC intervenes, the REX-Osprey ETFs will be among the first multi-asset crypto funds to list in the U.S. under the ’40 Act structure, widening access to retail and institutional investors. Their debut will also sharpen contrasts with pending applications for spot Ether, Solana, and XRP ETFs still awaiting decisions, according to cointelegraph.
