First U.S. Spot Dogecoin and XRP ETFs Launch This Week
The first spot Dogecoin (DOGE) and XRP exchange-traded funds (ETFs) will launch in the U.S. on Thursday, September 18, 2025. Both ETFs are issued by REX-Osprey and will trade under the tickers DOJE for Dogecoin and XRPR for XRP.
Eric Balchunas, a senior ETF analyst at Bloomberg, confirmed the launch details on X (formerly Twitter) on September 15. The launches come after a last-minute delay postponed the funds’ debut last week.
Spot Exposure to Crypto Through ETFs
REX Shares, the asset manager behind these ETFs, confirmed that XRPR will be the first U.S. ETF to offer direct spot exposure to XRP. This allows investors to gain exposure to XRP without buying the token directly.
In a post on X, REX Shares said, “XRPR will be the first U.S. ETF to deliver investors spot exposure to the third-largest crypto by market cap.”
Regulatory Framework and Fund Structure
- The ETFs will launch under the Investment Company Act of 1940, known as the 40 Act.
- This regulatory path allows the funds to launch while other filings under the Securities Act of 1933 are still pending.
- Seven issuers have filed for XRP ETFs under the 33 Act, and three have applied for Dogecoin ETFs, but none have SEC approval yet.
- The DOJE ETF will hold other spot Dogecoin ETFs, while the XRPR ETF will include spot XRP and other assets.
- The same prospectus also includes filings for TRUMP and BONK ETFs, but no launch dates are set for those.
REX Shares has previously launched the first Solana staking ETF under the 40 Act. That fund recently surpassed $250 million in assets under management, raising expectations for the new Dogecoin and XRP ETFs.
