New XRP and Dogecoin Funds Exceed $54 Mln in Trades

The first US exchange-traded funds linked to XRP and Dogecoin have made a striking market debut, generating $54.7 mln in trading volume and leaving analyst forecasts in the dust.

Bloomberg ETF analyst Eric Balchunas noted that most new funds manage around $1 mln in their first session, but these crypto products proved far more active. «No slouch,» he said on X, pointing out that the numbers signalled strong appetite for upcoming digital asset funds awaiting regulatory clearance.

$XRPR traded $37.7m on Day One, which edges out $IVES for the biggest day one (natural) $ volume of any 2025 launch. $DOJE is no slouch at $17m, which would be Top 5 for year.. out of 710 launches. Good sign for the onslaught of 33 Act ETFs coming soon.. pic.twitter.com/JaQP9ekFIq
— Eric Balchunas (@EricBalchunas) September 18, 2025

XRP ETF Leads the Way

The REX-Osprey XRP ETF (XRPR), which mirrors the price of XRP, led the pack with $37.7 mln traded on its opening day, according to Cboe data. Balchunas remarked it was the largest first-day showing of any 2025 ETF launch. Within 90 minutes of trading, XRPR had already recorded $24 mln, five times more than any XRP futures product managed on its first day.

Dogecoin ETF Exceeds Forecasts

The Dogecoin-tracking REX-Osprey ETF (DOJE) also surpassed expectations. Balchunas had predicted around $2.5 mln for its debut session, but the fund closed with $17 mln, ranking among the top five performers out of more than 700 ETF launches this year.

Both ETFs were filed under the Investment Company Act of 1940 rather than the Securities Act of 1933, which governs most crypto-related ETFs. While the «40 Act» allows for faster approval, it comes with restrictions on asset holdings. Instead of directly owning crypto, XRPR and DOJE invest via a Cayman Islands subsidiary and purchase shares in European and Canadian products tied to XRP and Dogecoin.

With regulators recently approving new listing standards, the strong start of these two ETFs could pave the way for more crypto-themed funds to enter the market in the months ahead.

Kursiv also reports that Easygroup, the company behind the Easy brand founded by Sir Stelios Haji-Ioannou, has entered the cryptocurrency market with the launch of a new mobile app, Easybitcoin.app.