Investment Managers File for MOVE ETFs Ahead of Mainnet Launch
As the blockchain only now moves into "mainnet beta," there are already ETF applications in the works.
Investment managers Rex Shares and Osprey Funds have filed to list a MOVE ETF with the SEC, coinciding with Movement's mainnet launch preparation.
What’s the Scoop?
- Historic Filing: This represents a historic step for
Movement as it marks one of the first ETFs tied to newer blockchain innovations, breaking away from traditional cryptocurrencies. - Investment Strategy: The fund plans to allocate 80% of its assets in MOVE tokens or derivatives through a specialized subsidiary.
- Political Dynamics: The Movement team has faced criticism for its overt political strategies, aimed at leveraging the pro-crypto stance of the current U.S. administration.
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