Rex Shares, Osprey Funds File for MOVE ETF as Movement Network’s Mainnet Launches

Investment firms Rex Shares and Osprey Funds have submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking Movement Network’s MOVE token. This move comes as Movement Foundation rolls out its Public Mainnet Beta, securing a substantial $250 million in Total Value Locked (TVL). Investors reacted swiftly, pushing MOVE’s price up 5% to $0.53.

Breaking New Ground: MOVE ETF Filing Signals a Shift

Bitcoin and Ethereum have dominated the ETF space for years, but this filing represents a break from tradition. The REX-Osprey MOVE ETF aims to allocate at least 80% of its assets to MOVE or related derivatives, giving institutional investors direct exposure to Movement Network’s Ethereum layer-2 blockchain.

The SEC has yet to make a decision on the application. However, the regulatory environment may be shifting, especially with Mark Uyeda—known for his crypto-friendly stance—stepping in as acting SEC Chair under the Trump administration. This change could increase the likelihood of alternative crypto ETFs receiving approval, a development that could shake up the sector.

Movement Network’s Mainnet Beta Debuts with $250 Million TVL

Alongside the ETF filing, Movement Foundation launched its Public Mainnet Beta, an Ethereum layer-2 solution built using MoveVM. With $250 million in TVL at launch, the network has drawn attention from both developers and investors.

Rushi Manche, Co-Founder of Movement Labs, commented on the ETF filing:

“Breaking the pattern of ETFs limited to long-established cryptocurrencies opens doors for institutional capital to support next-generation blockchain innovation.”

The substantial TVL figure suggests that investors are already recognizing the potential of Movement Network. If the blockchain gains adoption, MOVE could become a serious contender in the layer-2 space.

MOVE Token Rallies on Positive Developments

The market responded favorably to the ETF filing and mainnet launch, sending MOVE’s price up 5% in 24 hours. Currently trading at $0.53, the token boasts a market capitalization of $1.28 billion, ranking 61st among all cryptocurrencies, according to CoinMarketCap.

A technical look at the MOVE price chart shows bullish signals:

• The MACD indicator has formed a bullish crossover, with the blue MACD line rising above the orange signal line.
• Green bars on the histogram indicate growing buying pressure, reinforcing positive sentiment.

If momentum continues, MOVE could test higher resistance levels in the short term. However, much will depend on broader market conditions and how the SEC responds to the ETF proposal.

The Bigger Picture: A Turning Point for Crypto ETFs?

The MOVE ETF filing is more than just another crypto fund proposal—it’s a potential turning point. Historically, SEC approvals have been slow, with Bitcoin and Ethereum dominating the ETF landscape. If a MOVE-based ETF secures approval, it could pave the way for other altcoin-backed funds, expanding the market for institutional crypto investments.

For now, all eyes are on the SEC. A green light would not only validate MOVE but could also set a precedent for future blockchain-focused ETFs. Until then, investors will be watching closely, hoping for further regulatory clarity.