BREAKING: First XRP ETF to List on Exchange This Week – But Pay Attention to These Details

A historic step is being taken in the cryptocurrency market. REX Shares is launching the REX-Osprey XRP ETF (XRPR) this week, developed in collaboration with REX-Osprey .

The new product will offer investors the opportunity to directly invest in spot XRP in the US for the first time. XRP is the world's third-largest crypto asset by market capitalization, behind Bitcoin and Ethereum.

The XRPR fund aims to directly mirror XRP's performance and will provide investors with direct access to the asset. The fund's investment objective was announced as tracking XRP price movements “exclusive of fees and expenses.

” The REX-Osprey team had previously attracted attention with its SSK product. Related News: Watch Out: 29 Altcoins Have Massive Token Unlocks Coming Up Next Week - Here's the Day-by-Day, Hour-by-Hour List The fund's annual expenses include a management fee, distribution and service fees (12b-1), and other expenses are zero.

Management expenses will be largely covered by REX Advisers, LLC. The fund will operate through a subsidiary, REX-Osprey XRP (Cayman) Portfolio SP, incorporated in the Cayman Islands.

Several companies are currently racing to launch spot XRP ETFs. Eric Balchunas previously said the funds could be approved within two to four months.

But the REX-Osprey approach circumvents this approval process with a clever legal solution; unlike most ETFs, the funds choose to be taxable C-corporations. Therefore, distributions to owners will be taxed within the fund before being distributed to owners as dividends.

*This is not investment advice. Continue Reading: BREAKING: First XRP ETF to List on Exchange This Week – But Pay Attention to These Details