Overview

• REX Shares and Osprey Funds launched XRPR and DOJE, which together recorded roughly $54.7 million on day one, led by XRPR’s $37.7 million.
• XRPR posted the largest natural first-day dollar volume of any 2025 U.S. ETF launch, while DOJE’s ~$17 million ranked among the year’s top five debuts.
• Both funds list on Cboe under tickers XRPR and DOJE, with XRPR taking in about $24 million within the first 90 minutes of trading.
• The ETFs use a 1940 Act structure with Cayman subsidiaries and stakes in foreign ETPs rather than directly holding XRP or DOGE.
• Despite heavy ETF activity, XRP and Dogecoin prices were flat to modestly lower, underscoring a disconnect between ETF flows and spot markets as the SEC’s new listing standards open the door to more products.