tomorrow marks the launch of the first U.S. exchange-traded funds (ETFs) for XRP and DOGE, capitalizing on the $167 billion surge in the altcoin market.
In a significant development for the cryptocurrency market, two U.S.-listed exchange-traded funds (ETFs) are set to launch on September 18, 2025. The REX-OspreyTM XRP ETF (ticker: $XRPR) and REX-OspreyTM DOGE ETF (ticker: $DOJE) will provide investors with direct exposure to XRP and Dogecoin, respectively.
As of August 31, 2025, XRP had a market cap of $167 billion, signaling strong institutional and retail interest. Notably, XRP was mined in its entirety in 2012, and Ripple Labs currently controls more than 40% of the total supply. This has raised concerns about market influence and potential price manipulation. However, the XRP ledger uses a consensus protocol that is more energy efficient and faster than Bitcoin or Ethereum.
Dogecoin, originally designed as a parody in 2013, has grown to become a leading cryptocurrency with practical use cases. The addition of DOGE to the REX-OspreyTM ETF will be the first approach to decentralized finance where the asset will be legitimized to be traded through a regulated U.S. investment vehicle and exchange.
At least 40% of assets in the XRPR and DOJE ETFs will be held in ETFs and exchange-traded products (ETPs), including international listings in Canada and Europe. This means that the XRP and DOGE will be received by purchasing them at large crypto-exchange platforms, such as Coinbase and Kraken, ensuring liquidity. These ETFs will allow investors to purchase exposure to XRP and DOGE via brokerage accounts, IRA or institutional platforms, without the need for digital wallets or keys.
The funds can also utilize Cayman Islands subsidiaries to ensure friendly tax compliance and increase offshore investment coverage. The legal clarity post-SEC litigation for Ripple has paved the way for U.S. exposure to XRP.
However, it's important to note that XRP and DOGE still work in the unregulated markets of the world, making them subject to price manipulation by whales or unregulated exchanges, regulatory uncertainty, high volatility, and cybersecurity risks. As institutions show increasing interest in altcoins, the launch of these ETFs marks a significant step towards mainstream adoption of XRP and DOGE.
Institutions are already showing interest in altcoins, with Canadian ETFs and European ETPs attracting hundreds of millions in assets under management (AUM). The inclusion of DOGE in the ETF may be due to its growing relevance in decentralized apps and tipping platforms, fueled by retail enthusiasm.
In conclusion, the launch of the REX-OspreyTM XRP ETF and REX-OspreyTM DOGE ETF represents a significant milestone for the cryptocurrency market, providing a regulated and accessible avenue for investors to gain exposure to XRP and DOGE. As the market continues to evolve, it will be interesting to see how these ETFs perform and impact the broader cryptocurrency landscape.
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