- DOJE and XRPR ETFs debut with record-breaking volumes, shocking analysts with $30M+ combined in hours.
- DOJE is the first Dogecoin ETF ever, while XRPR is the first U.S. spot XRP ETF.
- With SEC standards now in place, more DOGE and XRP ETFs are expected soon.
The U.S. just witnessed a major milestone in crypto ETFs. REX Shares and Osprey Funds officially launched the first-ever Dogecoin ETF (DOJE) and the first U.S. spot XRP ETF (XRPR). Within hours of trading, both funds posted volumes far beyond what analysts predicted, proving there’s still plenty of demand for altcoin exposure on Wall Street.
Bloomberg’s Eric Balchunas, who expected modest volume because of the 40 Act structure, admitted he was surprised: DOJE hit almost $6 million in the first hour, while XRPR logged $24 million in just two hours — five times higher than XRP futures ETFs managed on their debut. For context, most new ETFs barely touch $1 million in early trading.
Why These ETFs Matter
DOJE is particularly historic since it’s the first-ever Dogecoin ETF of any kind, futures or spot. As Balchunas noted, that’s unusual for an asset like DOGE, which is often criticized for lacking “utility.” XRPR, meanwhile, marks the first regulated spot ETF tracking Ripple’s XRP in U.S. markets, giving institutional investors an easier way to get exposure without custody headaches.
Both ETFs are structured under the Investment Company Act of 1940, not the typical 1933 Act used by most spot Bitcoin or Ethereum ETFs. Instead of holding only DOGE or XRP directly, they include allocations to other spot ETFs to maintain compliance while still providing the exposure investors want.
Demand Signals and What’s Next
Market watchers like Nate Geraci predicted strong demand for XRP ETFs based on the popularity of CME futures and related products — and so far, XRPR’s launch supports that thesis. Meanwhile, DOJE’s stronger-than-expected debut shows meme coins aren’t just retail favorites anymore; institutions are dipping in too.
The SEC recently approved new listing standards for crypto ETFs, which means more DOGE and XRP funds are on the way. Currently, there are three DOGE ETF filings under the 33 Act and seven XRP filings awaiting clarity. Whether the SEC fast-tracks them or waits until October is still uncertain, but the path is clearly opening.
