REX-Osprey Doge ETFs and XRP ETF Break Records With $54.7M Debut

Investors poured into the first-ever U.S. REX-Osprey XRP and REX-Osprey Doge ETF on their opening day, driving a combined $54.7 million in trades. The strong debut shattered analyst expectations and signaled growing demand for altcoin-backed exchange-traded funds in the U.S. REX-Osprey shared the debut details over X (formerly twitter).

Source: X

XRP ETF Leads the Pack With Record $37.7M Volume

On Thursday, REX-Osprey rolled out two landmark ETFs tracking XRP and Dogecoin, making them the first spot exchange-traded funds for the third-largest cryptocurrency and the world’s biggest memecoin. Bloomberg Senior ETF Analyst Eric Balchunas noted that most new ETFs average around $1 million in first-day volume, but these two were “no slouch.”

Source: X

The REX-Osprey XRP ETF (XRPR) stole the spotlight, recording $37.7 million in trades—marking the “biggest day one of any 2025 launch” according to Balchunas. Within just 90 minutes of trading, XRPR reached $24 million, five times more than XRP futures achieved on their launch day.

While structured under the Investment Company Act of 1940, known as the “40 Act,” instead of the more common Securities Act of 1933, XRPR still drew massive investor interest. The 40 Act is faster in terms of approval but prohibits direct holdings of crypto. XRPR directly holds a Cayman Islands-domiciled subsidiary that owns the crypto, European and Canadian-listed equity of fund-tracking XRP.

As of today, XRP is currently trading at $3.03 with market capitalization of $181.51 billion and 24-hour volume of $6.07 billion. Even with a minor 0.95% intraday decline, XRP has increased by 5% in the last month.

Dogecoin ETF Defies Expectations With $17M in Trades

REX-Osprey Doge ETF (DOJE) was also in the news. Balchunas had originally estimated $2.5 million of volume for the ETF and had labeled it "respectable but nothing too special." But trading action caught up rapidly with estimates, reaching close to $6 million in the first hour and ending the day at $17 million in trades.

This put DOJE in the list of top five exchange-traded funds products of 2025 among over 700, indicating high investor demand for the first memecoin. Similar to XRPR, DOJE's design is based on the 40 Act model and involves foreign subsidiaries and off-shore products that follow the price activity of Dogecoin.

Dogecoin's market price is $0.2758, market capitalization is $41.65 billion, and trading volume in the last 24 hours is $4.03 billion. The token has surged 30% in the past month, spiking from $0.2175 to $0.2972, though it slipped 0.86% in intraday trading.

SEC Opens Doors for More Crypto ETFs

The launch comes just as the Securities and Exchange Commission approved new exchange listing standards, slashing approval timelines from 240 days to as little as 75. Analysts believe this could unleash over 100 new crypto ETFs in the next 12 months.

Balchunas called the debut of XRPR and DOJE a “good sign for the onslaught” of pending crypto ETFs, which span from altcoin-based funds to staking-focused instruments. As dozens of issuers submit proposals, success for these REX-Osprey products may create a trend for the wave of future U.S. digital asset ETFs.

Conclusion

The listing of REX-Osprey XRP and REX-Osprey Doge ETF is a milestone in crypto mainstream finance. Record $54.7 million of initial trading volume shattered expectations while indicating investor eagerness to introduce altcoin exposure into regulated environments.

Disclaimer: This article is for informational purposes and doesn't provide any financial advice. Do Your Own Research before investing.