18.09.2025 21:09
A landmark development has recently unfolded on Wall Street, as exchange-traded funds (ETFs) providing direct, or "spot," exposure to the volatile price movements of XRP and Dogecoin have made their unprecedented debut in the United States. These pioneering financial products, operating under comprehensive regulatory scrutiny, signify a pivotal integration for these prominent digital assets within the conventional financial landscape.
On September 18, the REX-Osprey XRP ETF commenced trading on American exchanges under the ticker XRPR, swiftly followed by the introduction of its counterpart, the REX-Osprey DOGE ETF, bearing the symbol DOJE. These innovative offerings from REX Shares and Osprey were brought to market leveraging the Investment Company Act of 1940. This specific federal legislation offers a considerably more expedited approval pathway compared to the more commonly employed Securities Act of 1933, which governs many other established crypto exchange-traded funds. A key feature of the 1940 Act framework is its provision for an almost automatic launch, allowing an ETF to debut 75 days post-application, unless the Securities and Exchange Commission (SEC) intervenes to halt the process.
The introduction of these spot ETFs on Wall Street represents a significant inflection point for both Dogecoin and XRP. This development holds the profound potential to unlock vast reservoirs of institutional capital, previously hesitant to engage directly with these digital currencies, thereby potentially inundating their respective markets with substantial new investment flows and cementing their position in mainstream portfolios.
This isn't REX-Osprey's inaugural foray into the digital asset ETF space; their Solana fund holds the distinction of being the first, and currently sole, ETF in the U.S. to track SOL, which ranks as the sixth-largest cryptocurrency by market capitalization. Notably, this Solana fund also pioneered the inclusion of staking rewards within a U.S. ETF. According to Nate Geraci, president of ETF Store, this recent launch will serve as a crucial "litmus test" to gauge investor appetite for future '33 Act spot XRP ETFs, particularly given that existing futures-based XRP ETFs are already accumulating nearly a billion dollars in assets.
The DOJE ETF, in particular, distinguishes itself as a significant landmark, being the first U.S. exchange-traded fund specifically designed to track a "meme coin" – a category of digital tokens frequently characterized by their lack of inherent utility or discernible economic purpose. This fund's initial performance remarkably surpassed the conservative projections of Bloomberg's Senior ETF Analyst, Eric Balchunas, who had initially anticipated a more measured market reception. The rapid exceeding of expectations underscores the unique speculative appeal these novel investment vehicles hold for certain segments of the market.
