The U.S. is about to see its first exchange-traded funds tied to XRP and Dogecoin, with launches expected this week following clearance from the SEC. Approved under the Investment Company Act of 1940, the products are a major step towards mainstreaming altcoins in the financial market.
XRP ETF to Debut Friday
Fund manager REX-Osprey announced that its XRP ETF, trading under ticker XRPR, is scheduled to begin trading on Friday. The fund moved forward after completing the SEC's 75-day review window without objections. The 1940 Act structure allows new products to go live automatically unless regulators raise concerns — giving issuers a faster path to market than the route used for spot Bitcoin ETFs.
Dogecoin ETF Launch Set for Thursday
The XRP product will be followed by a Dogecoin ETF under ticker DOJE, according to Bloomberg ETF analyst Eric Balchunas. It will become the first U.S. ETF based on a memecoin. Although Dogecoin was initially a joke, it has a strong community following and is one of the most widely traded cryptocurrencies.
A Growing ETF Pipeline
The XRP and Dogecoin launches come amid a surge in crypto ETF filings. As of late August, more than 90 products were pending SEC review, including a Litecoin ETF by Canary Capital, and Avalanche ETFs from Bitwise, VanEck, and Grayscale.
Canary Capital Litecoin ETF prospectus. Source: James Seyffart
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