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8h ago

U.S. Debuts First Spot ETFs for Dogecoin and XRP as SEC Speeds Crypto Listings

The SEC’s generic listing standards signal a faster pathway for crypto ETPs beyond bitcoin and ether.

Tesla CEO Elon Musk is a noted Dogecoin booster.
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Dogecoin is one of the leading meme coins.
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Overview

  • REX‑Osprey’s XRPR and DOJE began trading on Cboe BZX, with XRPR near $24 million in volume within 90 minutes and DOJE about $5.8 million in its first hour.
  • XRP and DOGE prices ticked higher on launch day as investors gained brokerage access to the tokens without using crypto exchanges or wallets.
  • Fund mechanics differ: XRPR holds XRP directly and can reference non‑U.S. spot ETFs, while DOJE uses a Cayman subsidiary to obtain exposure via futures and other derivatives.
  • Analysts project multi‑billion‑dollar demand for XRP funds in year one, with estimates ranging from roughly $1.8 billion to as high as $8 billion that could affect market liquidity.
  • CME plans to list options on XRP futures on October 13 pending review, and an SEC commissioner cautioned that the new listing standards shift review responsibilities.