Investment firms Rex Shares and Osprey Funds have filed with the U.S. Securities and Exchange Commission to launch an exchange-traded fund tracking the price of Movement Network’s MOVE token.
The proposed ETF would track MOVE, an Ethereum (ETH) layer-2 network built using MoveVM. According to the filing, the REX-Osprey MOVE ETF aims to allocate at least 80% of its assets to MOVE or related instruments.
MOVE (MOVE), launched on December 9, 2024, reached a peak fully diluted value of $14.5 billion, according to the filing, and had a market cap of $930 million as of March 4, 2025.
The fund may also use derivatives, including futures and swaps, to gain exposure to MOVE’s price performance. Additionally, it can invest in other crypto ETFs, including non-U.S. funds, and may allocate some assets to Bitcoin (BTC) and Ethereum ETFs based on market conditions.
The ETF would use a combination of direct holdings and derivatives to gain exposure to MOVE’s price performance.
Mainnet beta
Movement Network Foundation also announced the launch of its Public Mainnet Beta with $250 million in Total Value Locked from its Cornucopia program. The launch enables permissionless smart contract deployment, full user onboarding, and Ethereum settlement.
Developers and users can leverage MoveVM’s security and efficiency while accessing the network via the canonical Movement bridge powered by LayerZero.
This launch is done in hopes of securing a scalable environment for developers building on Move.
Other Rex Shares filings
Rex Shares has previously collaborated with Osprey Funds on filings for crypto-focused ETFs, including those tied to memecoins like TRUMP (TRUMP), BONK (BONK), and DOGE (DOGE).
The latest filing comes as the SEC, under acting Chair Mark Uyeda, has shifted toward a more crypto-friendly stance, dropping several lawsuits and investigations against digital asset firms.
The SEC has yet to approve any funds tracking newer crypto assets like MOVE.
MOVE is currently trading near $0.50.
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