TLDR
- XRP & Dogecoin ETFs Make U.S. Debut, Trading Volumes Smash Expectations
- XRPR & DOJE ETFs Hit Cboe: Regulated Crypto Exposure Gains Big Start
- First Spot XRP, Dogecoin ETFs Launch in U.S., Strong Investor Demand Seen
- Crypto ETFs for XRP & Dogecoin Begin Trading, Setting Market Milestone
- XRPR & DOJE ETFs Debut: New Era for U.S. Crypto Access & Investor Protection
The first U.S. spot XRP and Dogecoin ETF bxegan trading today on the Cboe BZX Exchange. These products, launched by REX Shares and Osprey Funds, offer regulated exposure to two of the most recognized cryptocurrencies. The debut marks a major milestone for crypto-linked ETFs in the United States.
XRPR Offers Direct Exposure to XRP
The XRPR ETF provides direct access to XRP, which powers the XRP Ledger and supports global payments and settlements. This XRP and Dogecoin ETF uses a spot-based structure, holding XRP directly as its primary asset. It also diversifies by allocating at least 40% to other crypto ETFs and ETPs traded internationally.
The ETF operates under the Investment Company Act of 1940, offering regulatory protections to market participants. The expense ratio for XRPR stands at 0.75%, according to its SEC filing. To expand access, XRPR also includes positions in foreign-listed spot ETFs tied to XRP.
XRP ranks as the third-largest cryptocurrency by market capitalization, and it supports fast, low-cost cross-border payments. XRPR opened strongly, surpassing $24 million in volume within the first trading hour. This outpaced prior XRP futures ETFs, showing notable demand for spot XRP exposure.
DOJE Tracks Dogecoin Through Derivatives
The DOJE ETF introduces spot-like exposure to Dogecoin using a Cayman Islands-based structure to trade futures and derivatives. This ETF differs from XRPR in that it does not hold DOGE directly, yet it still tracks its price effectively. It targets the same investor protections under the 1940 Act structure.
DOJE posted a first-hour trading volume exceeding $6 million, more than doubling initial expectations. This XRP and Dogecoin ETF reflects strong enthusiasm around memecoins entering regulated U.S. markets. The fund charges a 1.50% expense ratio and may use global crypto products for broader DOGE exposure.
Dogecoin, the eighth-largest digital asset, gained global popularity due to its online presence and community support. The ETF structure ensures ease of access without requiring self-custody or direct trading. The listing of DOJE also mirrors the success of REX-Osprey’s Solana ETF, which launched earlier this year.
Background and Market Implications
These XRP and Dogecoin ETF listings follow years of regulatory delays surrounding crypto ETF approvals in the U.S. Spot Bitcoin ETFs launched in January 2024, followed by Ethereum in mid-2024. REX-Osprey opted for the 1940 Act route, bypassing slower approval processes under the 1933 Act.
Other firms like Bitwise, 21Shares, and WisdomTree still await decisions on their XRP ETF filings. Unlike XRPR and DOJE, these use a trust model that needs additional exchange rule changes. The success of today’s launch could influence regulatory trends and future approvals.
REX-Osprey’s approach allowed faster entry into the market and leveraged existing ETF structures. With strong early trading performance, these XRP and Dogecoin ETF products may shape the next wave of crypto fund offerings. Their listing reflects growing demand for simplified access to top digital assets.
