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REX-Osprey XRP and Dogecoin ETFs Set to Begin Trading This Week

Highlights:

  • U.S. investors gain first-ever ETFs offering direct exposure to XRP and Dogecoin.
  • XRPR ETF primarily targets XRP, with additional holdings in Bitcoin and Ethereum.
  • Bloomberg’s Eric Balchunas said REX-Osprey Dogecoin ETF (DOJE) will also launch on Thursday in the U.S.

For the first time ever in the United States, investors will gain access to exchange-traded funds (ETFs) that are directly tied to XRP and Dogecoin. REX Shares, an American ETF company, announced that its REX-Osprey funds have successfully passed the Securities and Exchange Commission’s review. Both ETFs are expected to begin trading later this week.

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XRP ETF Details

The company confirmed that the REX-Osprey XRP ETF will trade under the ticker XRPR. Unlike Bitcoin spot ETFs, which are approved under the Securities Act of 1933, this ETF is launched under the Investment Company Act of 1940. This structure allows the fund to launch automatically unless regulators intervene. ETF Store President Nate Geraci described this approach as a “regulatory end-around,” because it enables funds to move forward without experiencing the usual delays.

The ETF will primarily concentrate on XRP, the world’s third-largest cryptocurrency by market capitalization. “The Fund, under normal market conditions, invests at least 80% of its net assets in the Reference Asset and other assets that provide exposure to the Reference Asset,” Rex Shares stated in a January filing with the financial regulator.

The company noted that XRPR will also allocate funds to exchange-traded products providing exposure to Bitcoin and Ethereum, alongside its main focus on XRP and related crypto ETFs. Bloomberg analyst James Seyffart commented that this approach prevents the ETF from being a “pure spot” product, although it still gives investors exposure to XRP’s price. XRP is trading around the $3 mark, down 1,51% in the past 24 hours at the time of writing.

Dogecoin ETF Set to Launch as First U.S. Memecoin Fund

The XRP fund is not the only altcoin ETF coming this week. Bloomberg ETF expert Eric Balchunas said the Dogecoin ETF, DOJE, is expected to launch on Thursday. The REX-Osprey Dogecoin ETF was approved under the 1940 Act. It will also be the first memecoin ETF in the U.S. Due to Dogecoin’s popularity and cultural significance, both retail traders and major institutions are likely to show strong interest.

Rex Shares Expands Crypto ETF Offerings as Dozens Await SEC Approval

This isn’t Rex Shares and Osprey’s first time launching a spot crypto ETF in the U.S. The company earlier introduced the REX-Osprey Solana Staking ETF (SSK) on July 2. It was the first U.S.-listed fund to give investors direct exposure to Solana and the chance to earn staking rewards. In late August, REX-Osprey also filed to launch a BNB staking ETF, with BNB currently trading at $928.

As of the end of August, more than 90 crypto ETFs and similar products were pending approval from the SEC, Bloomberg analyst James Seyffart reported. Bitwise also filed a prospectus on Monday for a spot Avalanche (AVAX) ETF.

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