The CBOE US Stock Exchange today established funds cited in the Stock Market (ETF) based on Dogecoin Cryptocurrencies (DOGE) and XRP.
Rex jointly manages investment companies and shares into investment companies. According to a statement from the company, the Rex-Soprey Doge ETF, which operates under ticker’s Doje, is positioned as “Dogecoin’s first ETF exposed directly to cash.”
Investors are currently operating at this ETF You can get in touch with DogeCoin through traditional securities accountsin addition to other financial products, they say.
Meanwhile, the Rex-Soprey XRP ETF with the ticker XRPR provides exposure to XRP. Unlike Doge’s background, this keeps most of its assets directly in XRP in cash. While investing the rest in XRP-backed inventory products.
The statement claims that the new funds provide “cash exposure,” but that is not actually about ETF spots in the same sense as those approved by the SEC for Bitcoin (BTC) or Ether (ETH). The key difference is that these products are made up of under the 1940 Investment Act of 1940, and are similar to mutual backgrounds and are not securities such as the classic 1933 ETF spot.
Furthermore, in the case of XRPR, a portion of the portfolio is invested in other products linked to XRP. This means that not all exposures are direct.
In reality, Rex-Soprey uses the “Spot” label as a marketing resource and associates its launch with the fame of Bitcoin and Ether ETFs, but the mechanism and actual level of exposure differ.
Now, as Cryptootics explains, the market is careful to know whether these and other cryptocurrencies are requested ETF spots.