REX-Osprey MOVE ETF Application Coincides with Movement Network Launch Amid SEC Altcoin ETF Decisions

REX-Osprey submitted an application for a MOVE token ETF as the Movement Network, an Ethereum Layer-2 blockchain using the Rust-based Move language, enters public testing. This move parallels increasing interest from traditional investors seeking regulated access to blockchain technologies. MOVE tokens have a fully diluted value of about $5 billion and a total lock-up value of $250 million. The SEC’s past reluctance to approve altcoin ETFs places significance on this filing. The SEC has approved Bitcoin and Ether ETFs but not for smaller altcoins like MOVE. The MOVE ETF application joins others by firms like Bitwise and Grayscale, indicating a trend towards formalized crypto investments. President Trump has appointed crypto-supportive officials in key regulatory positions, trying to position the U.S. as a ’crypto capital’. Analysts expect high approval chances for future altcoin ETFs such as Litecoin and Solana.