- First ETFs offering exposure to XRP and Dogecoin began trading in the U.S. on Thursday.
- The products, provided by Rex Shares and Osprey Funds, are listed on the Cboe BZX exchange under the tickers DOJE and XRPR.
- DOJE ETF uses a Cayman Islands-based subsidiary to gain dogecoin exposure via futures and derivatives, not direct holdings.
- XRPR ETF holds XRP directly and can also invest in overseas spot ETFs to achieve exposure, according to Bloomberg Intelligence.
- U.S. spot crypto ETFs have expanded since 2024, offering institutional investors a way to access cryptocurrencies without direct ownership.
The first U.S.-listed exchange-traded funds (ETFs) giving investors exposure to XRP and dogecoin began trading on Thursday. The new products, offered by Rex Shares and Osprey Funds, are listed on the Cboe BZX exchange under the tickers DOJE and XRPR.
According to Cboe’s latest reporting, DOJE was trading at $26.90 and XRPR at $25.73. These ETFs follow the Rex-Osprey Solana ETF, which launched in July. DOJE does not hold dogecoin (DOGE) directly; it invests through a Cayman Islands subsidiary using futures contracts and other derivatives to track the token’s price. XRPR is structured to hold XRP directly, but it can also buy spot ETFs from outside the U.S. to achieve its exposure, according to Bloomberg Intelligence analyst James Seyffart.
XRP, the native digital asset of the XRP Ledger payments network, and dogecoin, a popular meme-based cryptocurrency, are currently the third and eighth largest cryptocurrencies by market capitalization, based on CoinDesk data.
Spot cryptocurrency ETFs first appeared in the U.S. in January 2024, starting with Bitcoin funds and later expanding to ETFs covering other cryptocurrencies like ether (ETH). Crypto ETFs allow investors to access digital assets by buying shares, without handling the storage or security of the underlying tokens themselves.
These investment vehicles are designed to simplify access to cryptocurrencies for institutional investors, providing exposure while reducing the challenges of custody and direct ownership.
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