First U.S. Spot XRP ETF Goes Live: XRPR Posts $37.7 Million On Day One

REX-Osprey has launched two new U.S. exchange traded funds that give investors direct, regulated exposure to major meme and payments tokens. The funds are the REX-Osprey XRP ETF (ticker: XRPR) and the REX-Osprey DOGE ETF (ticker: DOJE).

Strong first-day trading

XRPR drew heavy trading on its first day. Bloomberg ETF analyst Eric Balchunas reported that XRPR traded about $37.7 million on day one. That total makes XRPR one of the largest single-day debuts among 2025 ETF launches. DOJE also saw solid interest and traded roughly $17 million on day one.

Those opening volumes offer an early sign of demand. 

What the funds do

Both XRPR and DOJE hold the underlying tokens on behalf of shareholders. That means investors can gain price exposure to XRP and Dogecoin from their regular brokerage accounts without opening accounts on crypto exchanges or handling wallets. The structure appeals to traditional investors who prefer familiar, regulated products.

REX-Osprey is the same team behind SSK, a U.S. ETF that combines spot Solana exposure with potential on-chain staking rewards. The firm positions these new launches as part of a broader push to bring mainstream investors regulated access to well known digital assets.

Broader market context

The XRP and Dogecoin ETF launches come amid a flurry of crypto and institutional activity. Ripple has been rolling out partnerships and tokenization projects with banks and asset managers. Separately, financial firms in other markets have launched programs that offer crypto incentives and easier transfers, increasing retail awareness and adoption in some regions.

What to watch next

• Net inflows and assets under management. Day-one volume is only an opening snapshot. Sustained inflows will determine the funds’ lasting impact.
• Trading liquidity and spreads. Watch how easily investors can trade the ETFs and how tight the bid ask spreads remain.
• Regulatory and product pipeline. More 33 Act ETFs could follow. Regulators and exchanges will play a key role in how fast that happens.