The record launch of spot exchange traded funds on XRP and Dogecoin confirmed investor interest in cryptocurrency instruments. The XRP ETF saw the largest trading volume among 2025 launches, while the Dogecoin ETF was among the top 5 debuts, indicating demand for digital assets beyond bitcoin and ether, Coindesk notes.

Details

The debut of spot ETFs based on the cryptocurrencies XRP and Dogecoin has generated high investor interest, Coindesk reports. The REX-Osprey XRP ETF, which trades under the ticker XRPR, reached $37.7 million in transaction volume on its first day - the largest of any ETF launch in 2025, Bloomberg senior ETF analyst Eric Balchunas said.

This debut outperformed the stock fund result of Dan Ives' popular retail investor - he launched his Wedbush AI Revolution ETF in early June. Such attention points to strong demand for alternative cryptocurrency instruments related to more than just bitcoin and ether, the publication notes.

Investors also showed interest in the REX-Osprey Dogecoin ETF with ticker DOJE, which saw $17 million in trading volume on its first day, making it one of the top 5 largest ETF launches of the year, which is especially notable given Dogecoin's reputation as a "meme" cryptocurrency, Coindesk recalls.

Data on first-day net inflows is expected later on Friday, the publication explained.

In trading on Sept. 19, XRP fell 2.8% to $3.03, while Dogecoin fell 3.4% to $0.27. There were no obvious factors for this, Barron's notes. Investors probably took the opportunity to lock in profits after strong growth in recent days: bitcoin rose to a one-month high on Thursday amid a general market rally triggered by the US Federal Reserve's decision to cut interest rates.

Context

XRP's market capitalization reached approximately $189 billion this week, surpassing the value of Citigroup. Meanwhile, Ripple, the company behind the development of the XRP ecosystem and providing cross-border transfers, has applied for a banking license in the US. Dogecoin has a market capitalization of about $41 billion.

The successful launch of the two funds follows the U.S. Securities and Exchange Commission's (SEC) decision to approve a new simplified listing standard for cryptocurrency ETFs - as a result, application processing times have been reduced from 240 days to about 75.

This article was AI-translated and verified by a human editor

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