The launch of XRP and Dogecoin ETFs in September 19, have raked in exceptional trading volumes surpassing market expectations. According to senior Bloomberg analyst Eric Balchuna, the REX-Osprey XRP ETF’s $37.7 million opening-day volume outperformed the Wedbush AI Revolution ETF (IVES), managed by analyst Dan Ives, which previously held the record for largest natural volume debut in 2025.
Meanwhile, the Dogecoin ETF’s $17 million first-day performance placed it among the top five largest ETF debuts of the year out of 710 total launches, marking a significant milestone for altcoin investment products. Fund manager REX-Osprey has secured regulatory clearance to launch the first-ever ETFs tied to XRP and Dogecoin, both approved under the Investment Company Act of 1940.
$XRPR traded $37.7m on Day One, which edges out $IVES for the biggest day one (natural) $ volume of any 2025 launch. $DOJE is no slouch at $17m, which would be Top 5 for year.. out of 710 launches. Good sign for the onslaught of 33 Act ETFs coming soon.. pic.twitter.com/JaQP9ekFIq
— Eric Balchunas (@EricBalchunas) September 18, 2025
REX-Osprey XRP ETF Begin Trading On Sep 19
The REX-Osprey XRP ETF (ticker: XRPR) became the first US ETF offering spot exposure to XRP, the third-largest crypto by market capitalization. The SEC’s 75-day review period for the filing has expired without objection, that paved the way for trading last weeky.
Unlike spot Bitcoin ETFs, which undergo a stricter review process under the Securities Act of 1933, these altcoin ETFs benefit from the 1940 Act framework, allowing automatic launches if the SEC does not intervene. Nate Geraci, President of ETF Store, described the launch as “another good litmus test” for gauging investor demand, pointing out that futures-based XRP ETFs are already closing in on $1 billion in assets.
Dogecoin ETF Went Live on Sep 18-19
The Dogecoin ETF (ticker: DOJE) launched this week, become the first US ETF directly tied to a memecoin, expanding investment options for retail and institutional investors alike. Read here for Dogecoin price predictions
Expanding REX-Osprey’s Crypto Lineup
These launches add to REX-Osprey’s expanding crypto product suite. The firm rolled out a Solana staking ETF in July, which has accumulated $274 million in assets, though inflows remain modest. In late August, REX-Osprey also filed for a BNB staking ETF, underscoring its push into diversified altcoin investment products.
Wave of Pending Crypto ETF Applications
The broader market is also buzzing with pending applications. More than 90 crypto investment products await SEC approval, according to Bloomberg’s James Seyffart. Among them:
- Canary Capital recently updated its filing for a Litecoin ETF, with a decision due in early October.
- Bitwise has submitted a prospectus for a spot Avalanche ETF, joining VanEck and Grayscale in seeking approval.
Meanwhile, the SEC has delayed rulings on several proposals, including Bitwise’s Dogecoin ETF and Grayscale’s Hedera ETF, moving deadlines to November 12.
Broader Implications for Altcoin Access
The success debut of both XRP and Dogecoin ETFs signal investors’ growing openness to altcoin-based products. This development could expand mainstream investor access beyond Bitcoin and Ethereum, marking a new phase in the evolution of crypto markets.
