Five new crypto exchange-traded funds (ETFs) by REX Shares and Osprey Funds are set to debut next week with a unique RIC structure, different from traditional spot crypto ETFs and the Solana SSK ETF. This structure allows for operational flexibility while navigating regulatory requirements.
The RIC structure enables the funds to hold spot crypto assets and use derivatives or invest in other ETFs when needed, operating within established investment company regulations. This approach offers a middle ground between pure spot exposure and complete structural innovation, providing different tax treatment and operational requirements.
Bloomberg analyst Eric Balchunas predicts the debut of the Dogecoin ETF (DOJE) next week, potentially mid-week, after experiencing a delay. REX-Osprey funds tied to Bitcoin, XRP, TRUMP, and BONK are expected to follow suit, introducing a new structure to the US crypto ETF landscape.
The SEC is developing a standardized listing framework for crypto ETFs to eliminate individual rule-change requests for qualifying assets, issuing stay orders on Bitwise’s $1.68 billion crypto index fund conversion and Grayscale’s Digital Large Cap Fund ETF transition. This delay aims to establish comprehensive digital asset listing standards.
The proposed framework would allow ETF sponsors to bypass the Form 19b-4 process when underlying tokens meet specific criteria. Seyffart suggested that this delay is intentional to prevent ETFs from launching before setting digital asset listing standards. Over 90 filings are expected to reach final deadlines in October, including Solana, Litecoin, and XRP ETFs.
Despite the upcoming batch approvals for altcoin ETFs, uncertainties remain around how REX-Osprey’s hybrid structure will perform. While the RIC approach provides immediate market access, it may have disadvantages in fees and tax structures compared to pure spot products. Investors are encouraged to stay informed with CryptoSlate’s Substack newsletter.
Read more at Yahoo Finance: REX-Osprey XRP and memecoin ETFs to debut with different structure next week