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Hypurr Nfts Debut With $68K Floor Price, Nft Mania Returns
Crypto Trends

Hypurr NFTs Debut With $68K Floor Price, NFT Mania Returns?

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Hyperliquid has unveiled its Hypurr non-fungible token (NFT) collection, launching 4,600 unique NFTs on its HyperEVM mainnet. The launch immediately attracted attention, with a notable floor price of $68,900 and millions in early trading volume.

The collection honors early adopters of Hyperliquid, a decentralized perpetuals trading platform, and the implementation of HyperEVM, the Layer 1 (L1) general programmability interface of the platform.

Hypurr NFTs have been deployed on the HyperEVM.

Participants had the opportunity to opt in to receive a Hypurr NFT after the HyperEVM went live as part of the Genesis Event in November 2024. The HyperEVM launched in February 2025 as the general programmability interface to the…

— Hyper Foundation (@HyperFND) September 28, 2025

According to the Hyper Foundation, the Hypurr NFTs aim to give a “memento with those who believed in and contributed early on to Hyperliquid’s growth.” Each NFT is unique, reflecting the community’s moods, hobbies, and tastes.

Distribution and trading performance

During last November’s genesis event, participants had the chance to opt in to receive a Hypurr NFT. Out of 4,600 NFTs, 4,313 were allocated to early event participants, 144 to the Hyper Foundation, and 143 to developers and artists.

Since its launch around 12:00 a.m. on Sunday, the collection has seen active trading. OpenSea data shows a total trade volume of roughly 1,300,000 HYPE tokens, equivalent to about $61 million. The current floor price is 1,540 HYPE ($73,300), and Hypurr #21 is currently sold at 9,999 HYPE, which is almost $470,000.

Potential risks and utility

While Hypurr NFTs have generated buzz across social media, the Hyper Foundation notes that these NFTs may occasionally come with benefits or features, but no utility is guaranteed. Buyers are supposed to know that NFTs are speculative, subject to price fluctuations, and there is no guarantee of returns.

Meanwhile, Hyperliquid’s native HYPE token has gained 5.27% in the past 24 hours, trading at $46.73 according to CoinMarketCap.

The Hypurr collection marks a milestone for Hyperliquid and a fresh start for NFTs in the market after years of stagnation. However, the excitement and the risks must be considered by the investors and collectors and they must carefully research before joining.

Also Read: Hyperdrive Exploit Leads to $782K Loss on Hyperliquid Network





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Stuttgart Stock Exchange, owner of Boerse Stuttgart Digital (Boerse Stuttgart)
Crypto Trends

Societe Generale Selects Bullish Europe to Debut Its USD Stablecoin

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Societe Generale-FORGE (SG-FORGE), the cryptocurrency-focused subsidiary of the French bank, has chosen the European arm of crypto exchange Bullish as the first venue to list the lender’s USD CoinVertible (USDCV) stablecoin.

The dollar-denominated USDCV stablecoin, which SG Forge introduced on Ethereum and Solana back in June of this year, will list on Bullish Europe, the companies said on Tuesday. Bullish Global is also the owner of CoinDesk.

The arrival of regulations around stablecoins has caught the attention of the financial industry. SG Forge’s USDCV stablecoin, like its euro-denominated counterpart (EURCV), is regulated under the Markets in Crypto-Assets regulation (MiCA).

Although the GENIUS Act has been passed by the U.S. Congress, the full regulation is not yet in place, pointed out Jean-Marc Stenger, CEO of Societe Generale-FORGE. This means it will be some time before the bank’s stablecoins will be available to U.S. residents.

“For the moment, we have clarity in Europe with MiCA, but we don’t have this clarity in the U.S. Being a bank subsidiary, if we don’t have a clear picture, we can’t go ahead like a crypto player might do,” Stenger said in an interview.

“It’s probably several months ahead of us to have all these additional rules which will be issued in the U.S. So for now, we restrict the access of this product to non-U.S. investors, and once we will have a clear picture of the environment in the U.S., our goal is to lift this constraint,” he said.

There’s been a lot of talk about stablecoins among banks and other traditional finance firms, what with the bedding in of MiCA and U.S. President Donald Trump’s crypto-friendly administration. That said, SocGen remains the main stablecoin trailblazer among systemically important banks, for the time being at least.

SG Forge’s EURCV euro stablecoin, which was launched in 2023, has around €40 million ($47m) of turnover every day, according to Stenger. He said the number of exchanges and brokers allowed to directly mint and burn the stablecoin is growing steadily, while there are 10 or 15 exchanges in the queue to be on-boarded.

“We have one single KYC procedure and policy for the group, meaning that we onboard crypto exchanges and brokers the same way SocGen will onboard any other client,” Stenger said. “On occasion it’s a big order for some crypto players, but it’s important towards building strong partnerships.”



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Bullzilla's $0.00000575 price sparks presale momentum
Crypto Trends

BitGo rockets to $4.2b earnings, eyes NYSE debut for IPO

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Crypto custodian BitGo is making a splash in the digital asset world with a staggering $4.19 billion in earnings for the first half of 2025.

As the company prepares to go public with plans for a New York Stock Exchange listing, it’s boasting record profits and expanding global reach. Plus, BitGo has a dual-share structure that keeps CEO Michael Belshe firmly at the helm, setting the stage for a high-stakes debut in an increasingly bullish crypto IPO market.

Summary

  • BitGo files for U.S. IPO after $4.19 billion revenue surge in first half of 2025
  • CEO Michael Belshe to retain control via dual-class voting share structure
  • IPO momentum grows as crypto firms tap public markets for expansion

As per reports, the company’s earnings nearly quadrupled to $4.19 billion in the first half of 2025. The Palo Alto-based firm reported a net profit of $12.6 million during the six months.

Founded in 2013, BitGo ranks among the most prominent crypto custody institutions in the United States and was valued at $1.75 billion in 2023.

The company plans to list on the New York Stock Exchange under the ticker BTGO, with Goldman Sachs and Citigroup serving as lead underwriters for the offering.

BitGo co-founder retains control

BitGo’s Belshe will retain control through a dual-class share structure. The Class B shares carry 15 votes each compared to one vote for Class A shares offered to public investors.

This arrangement qualifies BitGo as a “controlled company” under NYSE rules and exempts it from certain governance standards.

The company has expanded its global reach by securing an extended license from Germany’s Federal Financial Supervisory Authority. This allows its European arm to offer trading, custody, staking and transfer services under the EU’s Markets-in-Crypto-Assets framework.

BitGo’s client base includes crypto-native firms, financial institutions, governments and high-net-worth individuals. The company has completed Service Organization Control audits.

Strong crypto IPO market momentum continues

The BitGo IPO filing joins a wave of successful crypto public market debuts in recent months. Stablecoin issuer Circle, crypto exchange Bullish, and blockchain-based lending firm Figure have all seen strong reception from public market investors.

IPO research firm IPOX CEO Josef Schuster noted that “investors are increasingly viewing digital assets as an asset class in their own right, rather than purely speculative instruments.”

U.S. IPOs are experiencing one of their busiest periods since 2021. Crypto firms are also anchoring a market revival following earlier regulatory uncertainty.

Washington’s increasingly welcoming stance toward crypto has created favorable conditions for companies like BitGo to access public capital markets and scale their operations.



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Bitcoin
GameFi Guides

Poland Joins The Bitcoin ETF Wave With Warsaw Stock Exchange Debut

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Poland’s main bourse has opened a new door for investors who want Bitcoin exposure without buying the coin directly. The Warsaw Stock Exchange (GPW) has listed the Bitcoin BETA ETF, a fund that gives exposure to crypto via futures contracts rather than holding spot Bitcoin.

Bitcoin Futures And Currency Protection

Based on reports, the fund is managed by AgioFunds TFI SA and gains exposure by trading BTC futures listed on the Chicago Mercantile Exchange (CME).

The arrangement means investors are buying a regulated product tied to derivatives, not a direct claim on coins.

The prospectus for the fund was approved by Poland’s Financial Supervision Authority (KNF) on June 17, 2025, according to filings. The fund also uses FX hedging to help offset swings between the US dollar and the Polish zloty.

🚨 BREAKING 🚨

🇵🇱 Poland’s Warsaw Stock Exchange just launched its first Bitcoin ETF — the Bitcoin Beta ETF! 🔥💹

Another country joins the global Bitcoin adoption wave. 🌍⚡#Bitcoin #ETF #Poland #Crypto #BullRun pic.twitter.com/N6vLLd9cD9

— Murt Crypto (@Murtaza_Saraf) September 18, 2025

Market Making And Listing Details

Reports have disclosed that Dom Maklerski Banku Ochrony Środowiska S.A. (BOŚ) will serve as the market maker for the ETF on GPW.

That local brokerage is tasked with helping maintain orderly trading and a visible spread between buy and sell orders.

The listing brings a regulated option for Polish retail and institutional investors who prefer to trade through local brokers and their existing brokerage accounts.

How This Fits Into The Exchange’s ETF Suite

According to exchange data and industry reports, the BETA ETF joins a wider set of funds already traded on GPW — increasing the total number of ETFs on the exchange to around 16.

BTCUSD now trading at $115,945. Chart: TradingView

That includes funds tracking domestic indexes and several global benchmarks. The new product is positioned as another choice for investors looking to diversify within regulated markets.

Investor Takeaways And Risks

Investors should note that futures-based ETFs can behave differently from spot Bitcoin. Roll costs, futures curve dynamics, and management fees can affect returns over time.

The fund’s FX hedge will reduce currency drag for zloty-based investors, but hedging itself can add to fund costs. Reports suggest the prospectus and risk disclosures outline these points for buyers to review before investing.

Why This Matters

In short, this listing gives Polish investors a regulated route to Bitcoin exposure inside the traditional brokerage ecosystem.

The product is aimed at those who want market access without handling wallets or private keys, and who prefer trading on a local exchange. It may also nudge other regional markets to consider similar regulated vehicles.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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ProfitableMining gains traction as ETFs debut with a bang - 1
NFT Gaming

ProfitableMining gains traction as ETFs debut with a bang

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

XRP and DOGE ETFs surge as investors flock to ProfitableMining for automated, zero-entry cloud mining income.

Summary

  • ProfitableMining turns XRP and DOGE ETF hype into passive income with zero-entry, automated cloud mining.
  • Users earn profits without hardware or maintenance, leveraging global mining clusters and low electricity costs.
  • Bank-grade security, flexible withdrawals, and one-click setup make ProfitableMining a leading choice for passive crypto income.

With the XRP and Dogecoin (DOGE) ETFs making a strong debut in the US market, with first-day trading volume exceeding $54.7 million, crypto assets have seen an unprecedented influx of capital and a surge in interest. 

More and more investors, no longer content with simply holding onto their coins and waiting for appreciation, are turning to ProfitableMining — a cloud mining platform that has rapidly gained popularity thanks to its zero-entry, automated, and sustainable income model. 

It allows users to convert market excitement into stable passive income without the need to purchase mining equipment or the burden of maintenance, easily locking in a new engine of wealth growth amid the ETF craze.

ProfitableMining core advantages

ProfitableMining stands out in the fiercely competitive cloud mining market due to its multiple core advantages: balancing profitability, security, and convenience. The platform utilizes a zero-threshold, one-click cloud computing model, eliminating the need for users to purchase mining machines, build mining farms, or shoulder the burden of electricity costs and maintenance. 

Leveraging a global cluster of high-performance mining machines and low-cost electricity, it consistently delivers computing power exceeding the industry average, continuously increasing unit yields. Furthermore, the platform offers daily automatic settlement, transparent profit tracking, and flexible withdrawals in multiple currencies, ensuring clear and controllable fund flows.

Combined with bank-grade asset custody, hot and cold wallet isolation, and a multi-layered security system, ProfitableMining maximizes the security of user funds. Whether someone’s just starting out or are an expert investor, ProfitableMining offers efficient, stable, and sustainable passive income.

Join ProfitableMining now and earn stable returns

Unlock passive income in just 3 minutes:

1. Sign up and receive $17 worth of hashrate.

2. No mining rigs required, zero maintenance costs.

3. Daily settlements and instant withdrawals.

4. Alliance rewards up to 5% + VIP rewards up to $750,000.

Join ProfitableMining now and stop wasting your money!

ProfitableMining contract solution

Amid the computing power boom triggered by popular currencies such as XRP and Dogecoin, ProfitableMining has launched multi-level cloud computing power contracts based on the capital scale, risk appetite and profit goals of different groups, allowing every user to find their own profit model.

All contracts support multi-currency settlement and immediate withdrawals. The platform automatically settles daily, allowing for clear fund flows and immediate visibility of returns. Whether someone’s a beginner or an institutional investor, ProfitableMining can tailor a path to a unique computing power income path for you.

Create income with ProfitableMining

In the ever-changing world of crypto, only stable passive income can truly support someone through bull and bear markets and ensure steady progress. ProfitableMining leverages leading cloud computing technology, a flexible contract system, and bank-grade security to create a low-barrier, highly efficient, and sustainable income channel for global investors. 

Join now and enjoy 24/7 uninterrupted returns on your assets without having to constantly monitor the market or shoulder hardware and maintenance costs. While others are chasing short-term gains and fluctuations, be building long-term wealth through stable returns. Choose ProfitableMining and let’s build a future of sustainable and secure passive income together.

For more details, visit the official website.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.



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GameFi Guides

Dogecoin ETF Sees Strong Debut, But Rex-Osprey Is Already Plotting a Riskier DOJE Fund

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In brief

  • Rex-Osprey’s DOJE ETF delivered substantial trading volume upon its debut Thursday.
  • The issuer is now seeking approval for a leveraged ETF product that grants 1-1.5x leveraged exposure to DOJE.
  • Beyond the leveraged long exposure, its objective is to send weekly distributions to holders.

Rex-Osprey’s DOJE, the first U.S. spot Dogecoin ETF, produced strong trading volumes when it hit the market on Thursday, landing in the top five for ETF rollouts so far this year. And its issuer has already filed for a riskier, leveraged play on it. 

In a filing registered with the SEC on Thursday, Rex-Osprey applied to launch the REX DOJE Growth & Income ETF, an exchange traded product that aims to offer between 105-150% exposure to the price return of DOJE on a single day.

“Because the fund seeks daily leveraged investment results, it is very different from most other exchange-traded funds,” the filing reads. “As a result, the fund may be riskier than alternatives that do not use leverage.”

The REX DOJE Growth & Income ETF portfolio will be composed of three separate components: leveraged long exposure in the underlying Dogecoin ETF (DOJE), a covered call strategy to generate income, and investment in short-term treasuries or money market funds.

Its primary objective is to pay weekly distributions, with a secondary objective of earning daily investment results between 1-1.5x the percent change of DOJE. 

The leveraged investment filing is not new to Rex-Osprey, which offers a variety of leveraged ETF plays, offering greater exposure but more risk for investors. 

Its latest prospectus makes it well known that this additional risk is not for everyone. 



“The fund is not suitable for all investors,” it reads. “The fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking targeted daily leveraged investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently.”

Because of the daily leveraged makeup, the firm also notes that beyond a single day the fund will lose if DOJE’s return is flat, and it’s also possible the Growth & Income ETF will lose even if the DOJE ETF increases over more than a day. 

Additionally, the prospectus indicates that there is no guarantee the strategy will be implemented properly, or that it will be able to pay weekly distributions.

Dogecoin (DOGE) is down 6% in the last 24 hours to $0.265. The leading meme coin has jumped more than 22% in the last month, but remains around 64% off its 2021 all-time high of $0.73.

Rex-Osprey’s standard DOJE ETF began trading on Thursday and generated about $17 million worth of trading volume, putting it in the top five for first-day volume among ETF launches this year, according to Bloomberg Senior ETF Analyst Eric Balchunas.

The Rex-Osprey XRP ETF, meanwhile, also launched on Thursday and saw much stronger demand, topping this year’s list of new fund rollouts with nearly $38 million in trading volume.

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Colorado to debut new live buffalo mascot against Wyoming
Esports

Colorado to debut new live buffalo mascot against Wyoming

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Sep 19, 2025, 02:36 PM ET

The latest recruit on Deion Sanders’ roster weighs in at 700 pounds and runs the 40-yard dash as fast as she wants.

Colorado’s new live buffalo mascot will make her debut at Folsom Field on Saturday night against Wyoming. She’s officially named Ralphie VII, although a unique nickname is soon to come after her first run.

Ralphie VII is the latest in a string of field-storming live mascot buffaloes, a storied tradition and one of college football’s most iconic. The running of the buffalo has been a must-glimpse event at the school for the past 58 years.

Editor’s Picks

The 1-year-old bison steps in for Ralphie VI, who went into retirement before the start of season after showing little enthusiasm toward making the gallop around the field.

“We’re excited to be adding a new Ralphie to the lineage of incredible buffalo that have represented the University of Colorado and have elevated the fans’ passion for our student-athletes,” said Taylor Stratton, the director of the Ralphie Live Mascot Program.

A version of Ralphie has been missing from action the past two home games. Ralphie VI — nicknamed Ember — showed a reluctance to make the trip around Folsom Field to the roar of the fans. The plan for Ember will be to join Ralphie V — known as Blackout — on the ranch and do one of her favorite things – take it easy.

The newest member of Sanders’ squad is “definitely not indifferent to running,” the release from the school said.

Ralphie VII was a gift from the Beauprez family, supporters of the university and owners of Eagle’s Wing Ranch located near Steamboat Springs, Colorado.

“Ralphie’s run is iconic and our fans, students, faculty, staff and alumni take an incredible amount of pride in this tradition which transcends sports,” Stratton said.



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Rex-Osprey’s Xrp, Doge Etfs See $54M Trading Volume On Debut
Crypto Trends

REX-Osprey’s XRP, DOGE ETFs See $54M Trading Volume on Debut

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Investors rushed into the first U.S. exchange-traded funds (ETFs) tied to Dogecoin and XRP, driving trading volumes far above Wall Street forecasts. The two funds, launched Thursday by REX Shares and Osprey Funds, together saw nearly $55 million in trades on their debut, a blockbuster start for altcoin ETFs.

The REX-Osprey XRP ETF (ticker: XRPR) led the charge, recording $37.7 million in trading volume, according to Bloomberg ETF analyst Eric Balchunas. He noted it was the “biggest day one” of any ETF launched in 2025 so far.

$XRPR traded $37.7m on Day One, which edges out $IVES for the biggest day one (natural) $ volume of any 2025 launch. $DOJE is no slouch at $17m, which would be Top 5 for year.. out of 710 launches. Good sign for the onslaught of 33 Act ETFs coming soon.. pic.twitter.com/JaQP9ekFIq

— Eric Balchunas (@EricBalchunas) September 18, 2025

Within just 90 minutes, XRPR had already clocked $24 million in trades, five times more than any XRP futures ETF had achieved on its first day. XRP itself is the world’s third-largest cryptocurrency, currently trading around $3.06, down 1.64% in the last 24 hours

Dogecoin ETF Also Surprises

Meanwhile, the REX-Osprey Dogecoin ETF (ticker: DOJE) also smashed expectations. Balchunas initially predicted $2.5 million in first-day volume, but DOJE closed Thursday with $17 million in trades, placing it among the top five ETF debuts of the year. Dogecoin, the largest memecoin by market cap, is priced at about $0.28, down 1.78% in the last 24 hours.

Setting the over/under on $DOJE volume on Day One at $2.5 million (which is respectable table but nothing too special). The fact that’s it 40 Act and not 33 Act (and is not big boy issuer) could diminish interest a bit relative to other crypto first evers. We’ll soon find out.

— Eric Balchunas (@EricBalchunas) September 18, 2025

Both funds are registered under the Investment Company Act of 1940 (40 Act), unlike Bitcoin and Ether ETFs launched under the 1933 Act. While the 40 Act has stricter rules, it allows faster approval. The ETFs do not hold crypto directly but gain exposure through offshore subsidiaries and foreign exchange-traded products.

Analysts say the strong debut signals growing appetite for crypto ETFs beyond Bitcoin and Ether. Balchunas called it a “good sign” for the wave of altcoin and staking-focused funds waiting for regulatory approval.

With the SEC recently approving new listing standards to speed up ETF launches, more crypto assets could soon join XRP and Dogecoin in the spotlight.

Also Read: REX-Osprey Solana Staking ETF Hits $250M as SOL Price Soars





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The Ether Machine
NFT Gaming

Ethereum Giant The Ether Machine Aims for US Public Debut

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Ether Machine, an Ethereum treasury firm, has confidentially submitted a draft registration statement on Form S-4 with the US Securities and Exchange Commission as part of a planned merger with blank-check firm Dynamix Corporation.

Reports have disclosed the move as the next step in bringing the company’s large ether holdings onto public markets.

Draft Filing Ties To Dynamix Merger

According to filings and company posts, the S-4 is linked to a business combination between The Ether Machine and Dynamix that was first announced in July.

The merged entity would trade under the ticker ETHM when the deal closes, which market watchers expect to occur in Q4 2025 if shareholders and regulators approve the transaction.

Image: The Ether Machine

The company said it has engaged a Big Four auditor to bolster its financial reporting as it prepares for public scrutiny.

As of today, we have confidentially filed our S-4 with the SEC. We’re shifting into the next gear, and officially on its path to full public form 🔥

“The submission of our Form S-4 is a critical step towards becoming a publicly traded Ethereum company. We have also retained…

— The Ether Machine (@TheEtherMachine) September 16, 2025

The Firm’s Ether Hoard And Recent Financing

Based on reports, The Ether Machine now holds roughly 495,362 ETH, a stash valued at about $2.16 billion at recent prices, and has set aside roughly $367 million in cash to buy more ether.

The company also recently secured a $654 million commitment in a private financing round tied to a 150,000 ETH in-kind investment, a deal that brought a new board member to the firm.

ETHUSD now trading at $4,492. Chart: TradingView

Those moves have helped push the company’s balance sheet toward what backers call institutional-grade exposure to ether.

Funding Push And Big Investors

Reports have identified major crypto names among the backers. Investors such as Blockchain.com, Kraken and Pantera Capital participated in earlier financing, and organizers expect to raise more than $1.6 billion in the Nasdaq listing effort.

The Ether Machine is also lining up additional capital, with Citibank said to be leading a third fundraising round that may target at least $500 million. Those inputs matter because they will shape how much ether the public company starts its life with on the books.

Market Reaction

Market response to the deal was swift when it was first revealed: Dynamix stock jumped sharply in premarket trading after the merger was announced.

If the combination completes, The Ether Machine would become one of the largest publicly visible holders of ether, offering investors a way to gain regulated equity exposure to the token rather than buying it directly.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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XRP ETF news
NFT Gaming

First US Spot XRP ETF Set To Debut This Week: All You Need To Know

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REX Shares says it will list the first US exchange-traded fund offering spot exposure to XRP this week, trading under the ticker XRPR. “The REX-Osprey XRP ETF is coming this week!” the issuer posted on X, adding that the product will be the first US ETF to deliver investors spot exposure, currently the third-largest cryptoasset by market value.

XRP Makes Wall Street History

Unlike the SEC-approved spot bitcoin and ether products—structured as ’33 Act commodity trusts—the REX-Osprey fund is being launched as a ’40 Act open-end ETF. That structure permits an ETF to operate as a registered investment company and can mix exposures, rather than holding only a single commodity in a trust format. The SEC itself emphasizes that spot bitcoin and ether “ETPs” are not ’40 Act ETFs, underscoring the distinct regulatory regimes at play here.

In its latest Form N-1A filing, the fund is presented alongside sister products and described as seeking results that correspond to the performance of the token. The principal strategy commits to investing at least 80% of net assets in XRP and/or other assets that provide exposure to the token, either directly or via a wholly-owned Cayman subsidiary.

The filing also caps investment in that subsidiary at 25% of total assets. Creation and redemption are available to authorized participants, with the fund reserving the right to settle redemptions in cash and noting a standard T+2 payout timeline, extendable to seven days under stress.

The prospectus further allows the ETF to invest in other investment companies (including ETFs) subject to Section 12(d)(1) limits and contemplates the use of derivatives as permitted under the ’40 Act—language that provides flexibility, but does not make derivatives the primary exposure.

Bloomberg’s James Seyffart, who tracks crypto ETPs, cautioned that the product is not “pure” spot, explaining “it will hold spot directly and other spot XRP ETFs from around the world to get its exposure.” He added: “The fund documents also have language that would allow derivatives usage for exposure if needed but that definitely isn’t the primary exposure method.”

ETF Store president Nate Geraci framed the launch as a regulatory maneuver enabled by the ’40 Act: “First ETF offering spot XRP exposure set to launch this week…REX-Osprey using clever regulatory end-around via ‘40 Act structure to bring this to market. Will be another good litmus test for ‘33 Act spot XRP ETF demand. Futures-based XRP ETFs already nearing $1bil in assets.”

Market Backdrop And Futures Momentum

The debut comes as derivatives set records. In late August, CME XRP futures surpassed $1 billion in open interest, the fastest pace for any new contract on the venue, and industry commentators now peg US futures-based ETFs as nearing $1 billion in assets—a relevant yardstick for gauging initial demand for spot exposure in an ETF wrapper.

A broader wave of ’33 Act spot proposals is also in the queue. Any eventual approvals of ’33 Act spot trusts would add a second, more direct structural path to US spot exposure, alongside the REX-Osprey ’40 Act route.

Notably, REX-Osprey previously introduced the Solana + Staking ETF (SSK) via a comparable framework—context for how the firm is threading the regulatory needle. Separately, the issuer has guided that a Dogecoin ETF (DOJE) is also on deck this week, highlighting how alternative structures are opening US markets to non-BTC/ETH assets.

At press time, XRP traded at $3.00.



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