Recently, the Crypto Assets market has seen significant developments. Multiple sources have confirmed that REX-Osprey's XRP-related ETF product (code XRPR) has completed the SEC's 75-day review. If all goes well, the product is expected to start trading this Friday.

This ETF product uses the Investment Company Act of 1940 as its legal framework, which is considered more convenient in certain approval stages compared to the Securities Act of 1933 used by traditional spot ETFs. However, the SEC still retains the final veto power.

It is worth noting that XRPR is not a purely XRP spot ETF. According to its prospectus, the product will adopt a hybrid asset allocation strategy, holding not only XRP spot assets but also a diversified portfolio including cash, government bonds, and derivatives.

Despite some uncertainties surrounding the launch of XRPR, such as the SEC potentially raising objections in the final stages or market over-expectations leading to short-term selling pressure, it is still seen as an important milestone for the development of XRP in the US market. This will be the first ETF product to provide US investors with exposure to XRP in a manner similar to spot trading.

For investors who intend to participate, it is recommended to closely monitor the trading volume of XRPR, the fee structure, and the specific asset allocation ratios. These factors will directly affect whether it can be recognized by the market as a true XRP spot ETF.

As the Crypto Assets market continues to mature, the emergence of innovative financial products like XRPR marks the gradual blurring of the boundaries between traditional finance and the digital asset space. This not only provides new opportunities for investors but also injects new momentum into the development of the entire Crypto Assets ecosystem.