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#DOGE #XRP ETF Goes Live #DOGE ETF Launch
The first Dogecoin (DOGE) and XRP ETF have been launched! Here’s what you need to know along with comments from Bloomberg analysts!
The first ETF in the United States that provides spot exposure to Dogecoin and XRP has been launched. Here is everything you need to know.
The cryptocurrency market has made historic progress. Today, in the United States, the first spot exchange-traded fund directly tracking the prices of Dogecoin (DOGE) and XRP has started trading.
The products launched by REX Shares in collaboration with Osprey Funds include the REX-Osprey XRP ETF (XRPR) and the REX-Osprey DOGE ETF (DOJE). These two funds allow investors to directly invest in DOGE and XRP through an exchange by providing spot access to crypto assets.
REX-Osprey chooses to ensure regulatory compliance by registering its ETF under the Investment Company Act of 1940. Previously, the REX-Osprey SOL Staking ETF, which tracks the price of Solana (SOL) and staking rewards, was also launched with a similar legal structure.
The trading volume reached an impressive level after listing. Bloomberg analyst Eric Balchunas pointed out that the DOGE ETF had a trading volume of about $6 million in the first hour, while the XRP ETF reached $24 million in 90 minutes. Balchunas stated that these numbers are several times the previous trading volume of the XRP futures ETF on its first day.
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