Cyber Hornet has filed with the U.S. Securities and Exchange Commission (SEC) to launch a new exchange-traded fund (ETF) that combines exposure to the S&P 500 with XRP. The SEC filing also outlines two additional products under the same structure.
Cyber Hornet Expands ETF Suite With XRP, Ethereum and Solana Products
The SEC filing shows that the Cyber Hornet S&P 500 and XRP 75/25 Strategy ETF will trade under the ticker “XXX” if approved. The ETF aims to replicate the performance of the S&P 500 and the S&P XRP Futures 75/25 Blend Index.
This benchmark places 75% of its assets in S&P 500 stocks and 25% in XRP futures traded on the Chicago Mercantile Exchange. To maintain its exposure, the fund will also invest directly in XRP and may use exchange-traded products tied to the asset.
The other two products are focused on Ethereum and Solana. The Cyber Hornet S&P 500 and Ethereum 75/25 Strategy ETF will trade under ticker “EEE.” However, the Cyber Hornet S&P 500 and Solana 75/25 Strategy ETF will trade under ticker “SSS.”
Both funds follow the same design, combining equities with futures contracts for their respective cryptocurrencies. Ethereum exposure will be managed through Ether futures on the CME and direct holdings.
In contrast, the Solana exposure will track the S&P Solana Futures Index. This filing comes as Solana investment products are already gaining momentum, with REX-Osprey’s Solana staking ETF recently hitting a new AUM high.
The three Cyber Hornet ETFs will carry an annual management fee of 0.95%, with no shareholder transaction fees. Based on SEC estimates, a $10,000 investment would incur about $100 in fees after one year and $312 after three years.
The funds will rebalance monthly to maintain the 75/25 allocation. However, Cyber Hornet reserves the option to adjust more often in periods of volatility.
Nasdaq Listing Would Bridge S&P 500 Benchmarks With Leading Cryptocurrencies
As with other ETFs, shares may trade at a premium or discount to their net asset value. This move follows recent progress in the sector, with the SEC approving Hashdex’s index ETF to include XRP and Solana.
If approved, the Cyber Hornet ETFs will trade on Nasdaq. There, shares can be bought and sold like any listed stock. Only authorized participants can create or redeem 25,000-share blocks directly with the fund, while retail investors will use the open market.
Cyber Hornet’s filings highlight a growing effort to link Wall Street benchmarks with digital assets beyond Bitcoin. Also, these ETFs would be the first in integrating XRP, Ethereum and Solana with a regulated S&P 500 strategy.
Source: https://coingape.com/cyber-hornet-seeks-sec-nod-for-sp-500-and-xrp-etf/
