Spot XRP and DOGE ETFs Launch with $30M+ Record Inflows
On September 18, REX-Osprey’s Spot XRP ETF (XRPR) and Spot DOGE ETF (DOJE) began trading on the Cboe BZX Exchange under the U.S. Investment Company Act of 1940 (40 Act). XRPR drew a record US$24 million in its first 90 minutes—five times the debut volume of any XRP futures ETF—while DOJE saw nearly US$6 million in its opening hour. Unlike most crypto funds, the XRP ETF holds XRP tokens and invests in overseas spot ETFs, and the DOGE ETF gains exposure via a Cayman Islands subsidiary using futures and derivatives. This launch follows REX-Osprey’s Solana Staking ETF and the SEC’s approval of Grayscale’s Digital Large-Cap Fund (GDLC) along with streamlined generic ETF registration standards. High first-day inflows highlight strong demand for regulated spot crypto ETFs. Traders can watch for potential price rallies in XRP and DOGE as these new 40 Act products improve institutional access and market liquidity.
Bullish
Record first-day inflows into the XRP ETF and DOGE ETF signal strong institutional demand for regulated spot crypto products. The XRP ETF’s direct token holdings and the DOGE ETF’s structured exposure via a Cayman subsidiary broaden market access and liquidity. Historically, large institutional inflows into new spot ETFs tend to drive short-term price rallies and support longer-term adoption. Traders should view this launch as a bullish catalyst for XRP and DOGE, with potential for continued upside as these 40 Act vehicles attract further capital.