A historic development is underway in the US crypto markets. Two new exchange-traded funds (ETFs), developed in collaboration with REX Shares and Osprey Funds, are now available to investors, covering XRP and Dogecoin. These products, approved by the US Securities and Exchange Commission (SEC), demonstrate that the crypto market is not limited to Bitcoin and Ethereum, and that regulators are also opening the door to altcoins.
The XRP ETF (ticker: XRPR) will be listed under the Investment Company Act of 1940 (40 Act), a well-established US legislation. This automatically ensures the fund's entry into force; the process can only be halted if the SEC issues a clear objection. This method offers a more secure and auditable framework for investors. At least 40% of the fund will focus directly on XRP, while the remaining portion will provide exposure through other spot XRP ETFs and derivative products. This will provide investors with both direct and indirect access to XRP price movements. Dogecoin is also making a first for its time. The REX-Osprey Dogecoin ETF (DOJE), which will begin trading on September 18th, holds the title of being the first meme coin ETF in the US. Analysts say this move reflects increased investor risk appetite and interest in projects characterized by community power. The Dogecoin ETF is important not only for price speculation but also for its connection to traditional finance and internet culture.
Analysts Approval Received
Bloomberg analyst Eric Balchunas announced in a social media post that both the XRP ETF and the Dogecoin ETF have been approved under the same prospectus and will begin trading on Thursday. Another analyst, James Seyffart, emphasized that the XRP ETF is not a "pure" spot product, stating that the fund will hold assets directly and take positions through other ETFs.
REX-Osprey's interest in altcoin-focused products is not new. The company launched the Solana staking ETF in the first half of the year and also filed applications for BNB staking ETFs and Solana-based meme coin ETFs like TRUMP and BONK.
Developments aren't limited to REX-Osprey. Canary Capital's planned Litecoin ETF launch in October, Bitwise's Avalanche ETF application, and Grayscale's Hedera and Dogecoin funds are all awaiting SEC review. According to Bloomberg data, more than 90 altcoin ETF applications are currently in the approval process.
While the SEC's stance on crypto ETFs has been largely cautious, recent approvals signal a shift in the agency's approach. Following Bitcoin and Ethereum, opening up assets with diverse profiles like XRP and Dogecoin to investors through ETFs could bring the crypto ecosystem into wider reach.
