REX-Osprey files for MOVE ETF as Movement launches mainnet

Investment firms REX Shares and Osprey Funds have filed for an exchange-traded fund (ETF) focused on the Movement Network’s MOVE (CRYPTO:MOVE) token.

Announced on March 10, the filing comes as Movement launches its public mainnet beta, securing $250 million in total value locked (TVL) through its Cornucopia program.

The proposed REX-Osprey MOVE ETF aims to allocate at least 80% of its assets to MOVE and related instruments.

If approved, it would provide investors with regulated exposure to the Ethereum (CRYPTO:ETH) layer-2 blockchain without requiring direct token management.

“This ETF represents the convergence of innovative financial products with cutting-edge blockchain architecture,” said Cooper Scanlon, co-founder of Movement Labs.

MOVE, developed using the Move programming language originally created by Meta, has gained attention for its security and smart contract efficiency.

The token’s fully diluted valuation stands at nearly $5 billion, according to CoinMarketCap.

The filing signals an expansion of crypto ETFs beyond Bitcoin (CRYPTO:BTC) and Ethereum.

While the U.S. Securities and Exchange Commission (SEC) approved Bitcoin and Ethereum ETFs in 2024, no altcoin-focused ETFs have yet been authorised.

“Breaking the pattern of ETFs limited to long-established cryptocurrencies opens doors for institutional capital to support next-generation blockchain innovation,” said Rushi Manche, another co-founder of Movement Labs.

The MOVE ETF filing follows a broader trend of asset managers seeking SEC approval for funds tied to cryptocurrencies like Solana (CRYPTO:SOL), Litecoin (CRYPTO:LTC), and Polkadot (CRYPTO:DOT).

The SEC’s evolving stance under President Donald Trump’s administration has encouraged such filings by easing regulatory scrutiny on cryptocurrency firms.  

If approved, the REX-Osprey MOVE ETF is expected to launch on May 21, 2025.  

At the time of reporting, the Movement (MOVE) price was $0.5017.