Core Insights - REX-Osprey's Dogecoin ETF (DOJE) and XRP ETF (XRPR) are set to commence trading on September 18, 2023, expanding the crypto ETF landscape beyond Bitcoin and Ethereum [1][12][14] - The REX-Osprey ETFs utilize a registered investment company (RIC) structure, which provides operational flexibility while adhering to regulatory requirements [4][5][6] - The SEC has approved five REX-Osprey ETFs, with over 90 additional crypto ETF filings awaiting decisions, indicating a growing interest in altcoin exposure [12][13] ETF Launch Details - DOJE and XRPR are confirmed to start trading on September 18, 2023, with the Dogecoin ETF experiencing delays from its original debut date of September 12 [2][12] - The REX-Osprey ETFs are distinct from traditional spot crypto ETFs, as they operate under a RIC framework rather than corporate tax structures [4][10] Regulatory Framework - The RIC structure allows the funds to hold spot crypto assets while maintaining the ability to use derivatives, providing a balance between exposure and flexibility [6][10] - This structure results in different tax treatments and operational requirements compared to C-corporations, affecting investor return distribution [10] Market Context - The SEC's approval of REX-Osprey ETFs comes amid a broader context where over 90 crypto ETF applications are pending, with potential approvals expected in October [12][13] - Despite regulatory approvals, the SEC may delay launches to finalize a framework for fast-tracking crypto ETF approvals [13]

Group 1 - The REX-Osprey ETFs are set to debut next week, featuring a structure similar to the Solana SSK ETF, despite SEC approval [1][6] - The REX-Osprey ETFs utilize a registered investment company (RIC) structure, differentiating them from traditional spot crypto ETFs and the initial approach of the Solana ETF [2][3] - This RIC framework allows the funds to primarily hold spot crypto assets while also using derivatives and investing in other ETFs as market conditions dictate [4][5] Group 2 - The SEC is developing a standardized listing framework for crypto ETFs, which would streamline the approval process by eliminating individual rule-change requests for qualifying assets [7][8] - Recent SEC actions have included stay orders on Bitwise's and Grayscale's fund conversions, indicating a cautious approach to new ETF launches [7] - The proposed framework would enable ETF sponsors to bypass the traditional Form 19b-4 process if underlying tokens meet specific criteria, such as market capitalization and trading volume [8]