First US Spot XRP ETF Hits the Market
The U.S. will launch the first crypto investing product this week with the REX-Osprey XRP ETF (XRPR). The XRP ETF will be the first of its kind. The new US ETF enables direct, spot exposure to XRP, the third largest cryptocurrency by market capitalization.
REX and Osprey passed the SEC’s 75-day review period, meaning the fund will likely start trading on Friday unless there are delays.
Nate Geraci of Nova Dis mentioned that this launch will test investor demand in spot XRP ETFs. The strong interest in futures-based XRP ETFs suggests there will be significant investor response for altcoin and Bitcoin ETFs.
The fund is launched under the Investment Company Act of 1940 (ICA), a framework that simplifies ETF approval compared with the Securities Act of 1933, often used for spot Bitcoin ETFs.
Also Read : U.S. Launch of Dogecoin ETF Marks a Historic First for Memecoins
Dogecoin ETF to Debut Under 1940 Act
Momentum doesn’t stop with XRP. The REX-Osprey Dogecoin ETF (DOJE) will be launched this Thursday, also under the 1940 Act. This fund will be the first-ever dog memecoin ETF in the USA, permitting retail and institutional investors to hold DOGE.
REX-Osprey previously launched the Solana staking ETF (SSK) in July. However, interest remains low with assets under management totaling $274 million. The firm is also planning a BNB staking ETF as part of its broader altcoin ETF roadmap.
Altcoin ETFs Pipeline Remains Robust
According to James Seyffart, ETF analyst at Bloomberg, the SEC still has over 90 crypto ETPs in the review backlog.
Other developments include:
- Canary Capital amending its Litecoin ETF prospectus, expected for SEC review in early October.
- Bitwise registering a prospectus for a spot Avalanche (AVAX) ETF, following VanEck and Grayscale’s lead.
- SEC postponing rulings on Bitwise’s Dogecoin ETF and Grayscale’s Hedera ETF until November 12.
These updates indicate the growing altcoin ETF market in the U.S., offering investors regulated ways to access cryptocurrencies.
