XRP ETF Soars: $24M in 90 Min! 🚀 Cryptocurrency’s New Dawn?

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In a world where the line between financial innovation and speculative frenzy blurs like ink in water, the launch of the first U.S. spot XRP ETF has erupted with such vigor it could make a seasoned stockbroker weep-or faint. 💸🔥

XRP ETF Hits $24M Volume in 90 Minutes, Outpacing Futures Debuts Fivefold

After much anticipation, REX-Osprey, a duo of REX Shares and Osprey Funds, finally launched on Sept. 18 the first U.S.-listed exchange-traded funds (ETFs) to provide spot exposure to XRP and dogecoin (DOGE). The two funds, trading on the Cboe BZX Exchange under the tickers XRPR and DOJE, represent a step forward in integrating well-known cryptocurrencies into regulated ETF structures. Cboe confirmed both listings, describing them as new issues set to begin trading immediately-because nothing says “stability” like crypto. 🤡

The XRP fund is designed to track the performance of the asset while maintaining regulatory safeguards. REX Shares described its purpose directly:

The fund seeks to hold a majority of its assets directly in spot XRP, while the remainder will be invested in exchange-traded products backed by XRP. A fiscal juggling act, one might say. 🎩

“Through XRPR, investors gain simple ETF access to a crypto asset with real-world utility in global payments,” the announcement adds. The company noted that XRPR’s investment objective is to achieve results corresponding to the performance of XRP before fees and expenses, while clarifying that participation in XRPR is not equivalent to owning XRP itself. Under normal market conditions, the fund will invest at least 80% of its assets in XRP or XRP-related instruments, either directly or through its subsidiary. A 21st-century alchemy, perhaps? 🔮

Bloomberg ETF analyst Eric Balchunas noted the fund’s strong early performance, reporting that the Rex XRP ETF had reached $24 million in trading volume within 90 minutes. He said this figure is five times higher than the Day One volume of any previous XRP futures ETFs. A spectacle that would make even the most stoic regulator raise an eyebrow. 👀

This fund is structured differently from the spot bitcoin and ethereum ETFs that have been approved by the SEC. The REX-Osprey fund is a “40 Act” regulated investment company, which allowed it to be approved on a faster timeline. A bureaucratic shortcut, perhaps? 🏃♂️💨

Greg King, CEO of REX Financial and Osprey Funds, commented: “Investors look to ETFs as trading and access vehicles. The digital asset revolution is already underway, and to be able to offer exposure to some of the most popular digital assets within the protections of the U.S. ’40 Act ETF regime is something REX-Osprey is proud of and has worked diligently to achieve.” The firm emphasized its role in the industry, stating: “With the addition of DOGE and XRP ETFs, REX-Osprey further cements its role as a leader in bringing crypto-native assets into regulated ETF structures.” A leadership role in chaos, no doubt. 🏆

These launches follow the July introduction of the REX-Osprey SOL + Staking ETF (SSK), the first U.S.-listed ETF combining spot solana exposure with staking rewards. That product has surpassed $275 million in assets under management and converted to a Regulated Investment Company structure on Sept. 1 to improve tax efficiency. With XRPR and DOJE now trading, REX-Osprey is expanding its portfolio of digital asset funds, bringing broader access to crypto markets through vehicles that combine regulatory oversight with mainstream investment channels. Advocates contend that such ETFs make it easier for traditional investors to gain exposure to blockchain assets without navigating direct token ownership, custody, or unregulated exchanges. A brave new world, or a brave new bubble? 🌊

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2025-09-19 03:08