REX-Osprey Files Application for a MOVE ETF

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Asset manager REX-Osprey has announced plans to launch an exchange-traded fund (ETF) that will include the Movement Network’s native token, MOVE, as per a March 10 announcement.

This filing coincides with Movement’s launch of its public mainnet beta, a significant milestone for the layer-2 (L2) blockchain network.

This initiative reflects a growing trend where fund sponsors are seeking to list ETFs featuring alternative cryptocurrencies, or “altcoins.”

Cooper Scanlon, co-founder of Movement Labs, noted, “Traditional investors are showing strong interest in gaining regulated exposure to emerging blockchain technologies without the need to directly manage tokens.”

Movement is an Ethereum-based L2 blockchain crafted using Move, a Rust-based programming language initially developed by Meta.