The launch of new exchange-traded funds (ETFs) in the U.S. tied to Dogecoin and XRP has surpassed expectations, generating a remarkable trading volume of $54.7 million on their debut day. The XRP ETF took the lead with a staggering $37.7 million, marking the largest opening day for any ETF launched in 2025.
Record-Breaking Opening for XRP ETF
The REX-Osprey XRP ETF (XRPR) achieved a trading volume of $37.7 million on its first day, according to data from CBOE, making it the most significant ETF launch day in 2025. In the first 90 minutes of trading alone, XRPR accumulated $24 million.
Eric Balchunas, an ETF analyst at Bloomberg, expressed surprise at the strong performance, stating that this volume is five times higher than the initial trading volumes seen for other XRP futures ETFs. “This is much more than I anticipated,” he remarked, calling it a positive indicator for the anticipated influx of other crypto ETFs awaiting regulatory approval.
Dogecoin ETF Exceeds Expectations
The REX-Osprey DOGE ETF (DOJE) also exceeded forecasts, concluding the trading session with $17 million in transactions. Balchunas had initially estimated a more modest volume of around $2.5 million, which he considered a respectable, though unremarkable, figure. Instead, DOJE’s performance ranks it among the top five ETF launches this year out of over 700 new offerings.
Regulatory Framework and Future Prospects
Both ETFs have been launched under the Investment Company Act of 1940, as opposed to the Securities Act of 1933 used by last year’s Bitcoin and Ether ETFs. This “40 Act” framework allows for faster approvals—75 days as opposed to 240—but it carries restrictions on asset holdings. Importantly, XRPR and DOJE do not directly hold cryptocurrencies; instead, they invest in a Cayman Islands subsidiary holding digital assets as well as in European and Canadian ETFs that track coin prices.
This strong debut occurs amidst a wave of pending approvals for additional crypto ETFs, including those focusing on speculative altcoins and staking-related products. Recently, the Securities and Exchange Commission (SEC) approved new listing standards for ETFs, which could expedite the approval process for the upcoming applications.
John is a seasoned journalist at The Bothside News, specializing in balanced reporting across news, sports, business, and lifestyle. He believes in presenting multiple perspectives to help readers form informed opinions. His work embodies the publication’s philosophy that truth emerges from examining all sides of every story.
