- REX-Osprey’s XRP and DOGE ETFs launch with $55 million inflows.
- Strong institutional and retail interest boosts trading volume.
- Record-breaking day-one volumes indicate increased market presence.
The first US spot ETFs for Ripple’s XRP and Dogecoin, launched by REX Shares and Osprey Funds on CBOE, opened with unprecedented trading volumes of nearly $55 million.
Their success reflects robust institutional interest, potentially influencing market dynamics and regulatory perspectives on digital assets.
First US Spot XRP and DOGE ETFs Launch
The first US spot ETFs for XRP and Dogecoin (DOGE) launched this week, generating nearly $55 million in combined day-one trading volumes. This reflects significant interest from both institutional and retail investors in these digital assets.
The REX-Osprey XRP and DOGE ETFs are a joint effort by REX Shares and Osprey Funds, spearheaded by Greg King. King has extensive experience in ETF and crypto investment vehicles, enhancing the market scope for digital assets.
The launch recorded $37.7 million for XRPR and $17 million for DOJE. This strong initial trading activity signals robust market demand, potentially influencing broader asset flow strategies within the crypto market.
These ETFs were approved by the SEC, operating under the Investment Company Act of 1940. This regulatory process differentiates them from numerous pending spot ETF applications, possibly accelerating broader acceptance. “Investors look to ETFs as trading and access vehicles… The digital asset revolution is already underway, and to be able to offer exposure to some of the most popular digital assets is something REX-Osprey is proud of and has worked diligently to achieve.” —Greg King, CEO, REX Financial and Osprey Funds
Increased institutional exposure to XRP and DOGE may drive further price and volume volatility. This trend could impact other cryptocurrencies awaiting regulatory approval in similar markets.
Expert opinions, such as that of Bloomberg’s Eric Balchunas, highlight these record-setting trading volumes as strong indicators of the impending wave of 33 Act ETFs. This suggests a favorable outlook for continued institutional adoption of crypto assets.
