Two new altcoin exchange-traded funds (ETFs) are poised to make their debut in the United States this week, focusing on XRP and Dogecoin. These launches come as regulatory bodies exhibit increasing openness to cryptocurrency investment products.
The REX-Osprey XRP ETF is slated for release, according to an announcement made by the fund issuer. Set to trade under the ticker symbol XRPR, this ETF will be the first in the U.S. to offer investors direct spot exposure to XRP, which holds the position as the third-largest cryptocurrency by market capitalization. The fund has successfully navigated the Securities and Exchange Commission’s (SEC) 75-day review process and is scheduled to begin trading on Friday, with no anticipated delays.
This ETF is being established under the Investment Company Act of 1940. This regulatory framework allows for a more streamlined approval process than the Securities Act of 1933, which has been typically used for spot Bitcoin ETFs. Unlike funds that must hold the assets directly, the 1940 Act structure permits the launch to automatically proceed following 75 days post-filing unless the SEC intervenes. Financial experts view this launch as a significant indicator of market demand for spot XRP ETFs, especially as futures-based XRP ETFs are already approaching $1 billion in assets.
In addition to the XRP ETF, the Dogecoin ETF (DOJE) is also expected to launch shortly. Bloomberg ETF specialist Eric Balchunas has indicated a Thursday launch for this product. The REX-Osprey Dogecoin ETF will make history as the first memecoin ETF in the U.S. and is similarly approved under the 1940 Act structure. Earlier this year, REX-Osprey introduced the first Solana staking ETF, although it has seen less enthusiasm from investors, with only $274 million in assets under management since its inception and less than $25 million in inflows over the past five days.
REX-Osprey has also filed for a BNB staking ETF, expanding its portfolio of crypto-focused products. The current landscape indicates a robust interest in altcoin ETFs, with more than 90 cryptocurrency exchange-traded products awaiting SEC approval as of late August. These include a pending Litecoin ETF from Canary Capital that is scheduled for final SEC decision in early October.
In parallel, Bitwise has introduced a prospectus for a spot Avalanche ETF, competing with other issuers such as VanEck and Grayscale, who also have active filings for similar products. However, the SEC has recently postponed its decisions on some proposed ETFs, including Bitwise’s Dogecoin ETF and Grayscale’s Hedera ETF, pushing deadlines to November 12.
Overall, the anticipated launches of the XRP and Dogecoin ETFs signal a growing acceptance of cryptocurrencies as viable investment options, potentially paving the way for further innovations and offerings in the ETF market.
