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A historic development took place in the cryptocurrency market, with spot ETFs directly tracking the price of Dogecoin ($DOGE) and $XRP starting trading in the US for the first time yesterday.
Products launched in collaboration with REX Shares and Osprey Funds include the REX-Osprey $XRP ETF (XRPR) and the REX-Osprey $DOGE ETF (DOJE).
These two funds offer spot-based access to the two assets, allowing investors to invest directly in $DOGE and $XRP via the exchange.
$XRP and $DOGE Exceed Expectations!
Investors flocked to the first Dogecoin and $XRP exchange-traded funds in the US, as these ETFs were long-awaited, exceeding analysts' trading volume expectations.
Bloomberg ETF analyst Eric Balchunas said the REX-Osprey $XRP ETF (XRPR) reached $37.7 million in volume on its first day of trading, while the $DOGE ETF reached $17 million.
“The $XRP ETF XRPR reached $37.7 million in first-day trading volume, surpassing IVES for the largest first-day volume for any launch in 2025.
DOJE didn't perform badly at all, with a trading volume of $17 million among 710 launches, which would rank in the top 5 of the year.
XRPR and DOJE were among the best performing ETFs launched this year.”
Eric Balchunas said that the $XRP and $DOGE ETF inflows are a positive signal for altcoin ETFs to be approved in the near future.
He had kept expectations low!
Balchunas said before the ETFs were launched that he expected the REX-Osprey $DOGE ETF (DOJE) to reach a volume of $2.5 million on the first day, which would be a significant figure but “not something very special.”
However, Balchunas later said that his expectations were shattered in the first hour of trading, as the $DOGE ETF's volume approached $6 million.
“This is surprisingly strong and exceeded my expectations. Most ETFs trade below $1 million on the first day,” the analyst said.
Balcuhasn had also kept his expectations low for $XRP. At this point, the analyst said that XRPR achieved $24 million in volume in the first hour and a half of its launch, marking a very fast start.
“Much more than I thought. For context, XRPR saw 5x more volume on its first day than $XRP futures ETFs did on their first day, and it did so in just 90 minutes.”
https://x.com/EricBalchunas/status/1968794374285725826
*This is not investment advice.