According to data provided by REX Shares, the REX Osprey XRP ETF (XRPR) has now surpassed a total of $100 million worth of assets under management.
XRPR is considered to be the very first XRP ETF launched in the US.
However, it is worth noting that the product does not provide direct exposure to the token. REX Shares used the unorthodox ’40 Act path for launching the trailblazing product.
The ETF operates as an investment company instead of a trust that directly holds an asset. Under this structure, the fund cannot provide exposure to a single asset, so it has to diversify its holdings.
What about “pure” XRP ETFs?
There are several pending XRP ETF filings in the pipeline. Several major issuers, including Franklin Templeton, have joined the race to launch a “pure” spot XRP ETF.
The approval of these products seems to be a done deal following the implementation of the agency’s generic listing standard.
However, they cannot be greenlit right now due to the ongoing government shutdown. The SEC is currently operating with a very limited number of staff.
