U.S. Market Braces for Launch of First Spot ETFs in DOGE and XRP

Bloomberg ETF analyst Eric Balchunas said the products, managed by REX Shares in partnership with Osprey, are now set to make their debut on September 18 after a short delay.

Both funds will be introduced under the Investment Company Act of 1940 framework, giving institutional investors regulated access to direct exposure in the two altcoins for the first time. Balchunas explained that while similar filings under the 1933 Act are still awaiting approval from the Securities and Exchange Commission (SEC), this alternative structure allows the launch to move forward without further delay.

REX Shares confirmed in a separate update that the XRP ETF, listed under the ticker XRPR, would be the first of its kind in the U.S. market. The company emphasized that the product will deliver spot-based exposure to the token, currently the third-largest cryptocurrency by market capitalization. Alongside this, the Dogecoin ETF (DOJE) is also slated to roll out on the same day.

The asset manager is no stranger to pioneering efforts in the ETF space. REX recently introduced the first Solana staking ETF, which has already surpassed $250 million in assets under management. Industry observers note that the firm’s push into new crypto-linked funds suggests a growing appetite among institutional players for diversified digital asset products.

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While these ETFs will provide spot exposure, Bloomberg’s James Seyffart clarified that they may also include allocations to other holdings, rather than consisting solely of Dogecoin or XRP. Still, their approval marks a breakthrough for crypto-based ETFs in the United States, particularly as issuers continue to wait on the SEC for broader green lights on 1933 Act filings.

Ahead of the launches, both Dogecoin and XRP briefly rallied over the weekend, with DOGE hitting $0.30 for the first time this year and XRP climbing back above $3. However, gains were short-lived as the broader crypto market slipped, pulling the two altcoins lower.

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