First Spot XRP ETF Faces Delay, Rex-Osprey’s Launch Pushed to September 18

XRP is set to welcome its first-ever spot exchange-traded fund (ETF) in the United States. The product, managed by Rex Shares and Osprey Funds, is called the Rex-Osprey Spot XRP ETF. According to experts, trading will officially begin on September 18, 2025, after a short delay from the original September 12 launch date. 

The U.S. Securities and Exchange Commission (SEC) gave the green light after finishing its 75-day review with no objections. The fund operates under the Investment Company Act of 1940, the same law that governs most traditional ETFs and mutual funds.

Unlike futures-based products, this ETF will hold XRP directly, giving investors simple, regulated access through their brokerage accounts. That means no crypto wallets, no exchanges, and fewer technical hurdles for everyday buyers and large institutions alike.

Cayman Subsidiary Structure

To stay in line with U.S. tax and regulatory rules, the ETF gains exposure through a wholly-owned Cayman Islands subsidiary called the REX-Osprey XRP (Cayman) Portfolio S.P.. By law, no more than 25% of total assets can be invested in this subsidiary. This structure is commonly used by other crypto-related funds.

Part of a Larger ETF Lineup

The XRP ETF is one of several crypto products rolling out from Rex-Osprey. Other funds linked to Bitcoin ($BTC), Dogecoin ($DOGE), Bonk ($BONK), and Trump Token ($TRUMP) are also scheduled to start trading next week.

Why It Matters for XRP

For XRP holders and the wider market, this is the kind of breakthrough that’s been years in the making. The ETF gives institutions a straightforward way to buy into XRP, and it offers retail investors a regulated product without the friction of crypto exchanges. Analysts say this could bring steady inflows, more liquidity, and stronger market stability.

The arrival of a spot XRP ETF is a turning point. Whether it drives the price higher or simply expands the asset’s reach, the launch ensures XRP now has a place in the same investment toolkit that already includes spot Bitcoin ETFs. The official launch now lands on September 18, 2025, opening the door for both retail and institutional investors. For XRP backers, it’s the kind of catalyst they’ve been waiting on for years.