Overview

• REX-Osprey listed the DOJE and XRPR funds on the Cboe BZX exchange on Sept. 18, delivering the first U.S.-listed spot exposure to Dogecoin and XRP.
• Early trading was robust, with DOJE recording about $5.8 million in its first hour and XRPR reaching roughly $24 million in about 90 minutes, according to Bloomberg data.
• Both ETFs are structured under the Investment Company Act of 1940, using designs that can combine direct token holdings with offshore subsidiaries or derivatives.
• Filings and analyst commentary indicate XRPR holds XRP directly and can own non‑U.S. spot ETFs, while some reports say DOJE may use a Cayman subsidiary and derivatives rather than holding DOGE outright.
• DOGE and XRP prices rose on launch day, analysts project $1.8–$8 billion in first‑year inflows for XRP ETFs, and CME plans options on XRP futures for Oct. 13 pending regulatory review.