This week will see the debut of the first Exchange-Traded Funds (ETFs) for Dogecoin and XRP in the United States, generating interest in new opportunities in the cryptocurrency market.
Launch of Dogecoin and XRP ETFs
The funds, issued by REX-Osprey, are scheduled to launch on Thursday, September 18. The Dogecoin ETF will trade under the ticker DOJE, and the XRP ETF under the ticker XRPR. This launch comes after a last-minute postponement last week.
Benefits of the New Funds
REX Shares states that the XRP ETF will be the first fund in the U.S. to provide investors direct access to spot XRP. Rather than purchasing the tokens directly, investors will be able to manage them through the ETF, simplifying the process for some market participants.
Regulatory and Structural Details
Both funds will be launched under the Investment Company Act of 1940 (40 Act), allowing them to access the market even as filings under the Securities Act of 1933 remain pending. The structure of these funds will differ from traditional single-asset ETFs, with the Dogecoin fund holding other spot Dogecoin ETFs, while the XRP fund will consist of a mix of assets including spot XRP.
The launch of ETFs for Dogecoin and XRP marks a significant step for the U.S. cryptocurrency market, providing investors new opportunities to access popular digital assets through a legitimate and regulated structure.
