Key Points

• The REX-Osprey filing with the SEC is subject to completion.
• James Seyffart pointed out that the filing is similar to crypto futures ETFs.

REX Shares and Osprey Funds have filed for multiple ETFs with the SEC, according to the latest reports. These new ETFs would include BTC, ETH, TRUMP, DOGE, BONK, SOL, and XRP.

REX Shares is an innovative provider of ETPs that specializes in alternative-strategy ETFs and ETNs. Osprey Funds offers secure and accessible options for accredited investors to gain crypto exposure.

REX-Osprey New ETFs Filings

The official SEC notes point out that the information in the prospectus is not complete and may be changed. It also states that “the Funds may not sell these securities” until the registration statement filed with the SEC is effective.

Also, it notes that the prospectus is not an offer to sell these securities and is not soliciting an offer to buy them in any jurisdiction where the offer of sale is not permitted.

Bloomberg’s analyst James Seyffart and ETF Store President, Nate Geraci highlighted the move via their X accounts.

ETFs Filing Details

Seyffart also pointed out that these products have been filed under the 1940 Act, like crypto futures ETFs. He wrote that they will hold a combo of derivatives, the assets, and a Cayman subsidiary which will hold the assets.

According to him, this looks similar to a playbook issuers use in the commodity ETF world to avoid K-1s.

The official Form N-1A also mentions the registration statement under the Securities Act of 1933. This was enacted by the US Congress in May 1933, during the Great Depression, when the stock market collapsed in 1929.

The Investment Company Act of 1940 was created by the US Congress and it regulates the organization of investment companies and the product offerings that they issue.