The First Dogecoin (DOGE) and XRP ETFs Have Hit the Market – Here’s What You Need to Know and a Bloomberg Analyst’s Take

A historic development has occurred in the cryptocurrency market. Spot exchange-traded funds (ETFs) directly tracking the price of Dogecoin ($DOGE) and $XRP began trading in the US for the first time today.

The REX Shares and Osprey Funds jointly launched products include the REX-Osprey $XRP ETF (XRPR) and the REX-Osprey $DOGE ETF (DOJE). These two funds offer spot-based access to crypto assets, allowing investors to invest directly in $DOGE and $XRP through exchanges.

REX-Osprey has chosen to ensure regulatory compliance by registering its ETFs under the Investment Company Act of 1940. The REX-Osprey $SOL Staking ETF, which tracks the price of Solana ($SOL) and staking rewards, was previously launched with a similar legal structure.

Trading volumes reached remarkable levels after the launch. Bloomberg analyst Eric Balchunas noted that the $DOGE ETF saw approximately $6 million in trading volume in the first hour, while the $XRP ETF reached $24 million within 90 minutes. Balchunas noted that these figures surpassed the first-day volumes of previously traded $XRP futures ETFs.

*This is not investment advice.