Investment firms Rex Shares and Osprey Funds have filed with the U.S. Securities and Exchange Commission (SEC) to introduce an exchange-traded fund (ETF) tracking the price of Movement Network’s MOVE token. The proposed REX-Osprey MOVE ETF aims to allocate at least 80% of its assets to MOVE or related instruments, according to the filing.
MOVE ETF and Market Position
MOVE, an Ethereum layer-2 network built using MoveVM, was launched on December 9, 2024. The token reached a peak fully diluted value of $14.5 billion and had a market cap of $930 million as of March 4, 2025. The ETF intends to provide exposure to MOVE’s price movements using a mix of direct holdings and derivatives, such as futures and swaps. Additionally, it may invest in other crypto ETFs, including non-U.S. funds, and could allocate assets to Bitcoin and Ethereum ETFs depending on market conditions.
The REX-Osprey MOVE ETF is expected to go live on May 21, 2025, pending regulatory approval.
Movement Network’s Mainnet Beta Launch
Alongside the ETF filing, the Movement Network Foundation has announced the launch of its Public Mainnet Beta, boasting $250 million in Total Value Locked from its Cornucopia program. This launch enables permissionless smart contract deployment, full user onboarding, and Ethereum settlement.
MoveVM’s framework is designed to provide a secure and efficient environment for developers, who can now leverage the canonical Movement bridge powered by LayerZero for network access.
SEC’s Crypto-Friendly Shift and Rex Shares’ Past Filings
The latest ETF filing comes amid a shifting regulatory landscape. Under acting SEC Chair Mark Uyeda, the commission has dropped several lawsuits and investigations against digital asset firms, signaling a more favorable stance toward crypto-related financial products.
Rex Shares and Osprey Funds have previously collaborated on filings for crypto-focused ETFs, including those tied to memecoins like TRUMP, BONK, and DOGE. However, the SEC has yet to approve any ETFs tracking newer crypto assets like MOVE.
As of now, MOVE is trading near $0.50, and industry players are closely watching the SEC’s decision, which could set a precedent for ETFs linked to emerging crypto projects.
