The U.S. is preparing to welcome two new altcoin-based exchange-traded funds (ETFs) this week, offering investors fresh exposure to XRP and Dogecoin. The move highlights regulators’ growing acceptance of crypto investment vehicles beyond Bitcoin and Ethereum.
On Monday, REX-Osprey confirmed that its XRP ETF, trading under the ticker XRPR, will begin trading this week. This marks the first U.S. ETF providing direct exposure to XRP, currently ranked as the third-largest cryptocurrency by market value.
The ETF cleared the SEC’s 75-day review period under the Investment Company Act of 1940, meaning the fund can automatically launch unless the Commission intervenes — which it has not. Trading is expected to commence on Friday. Unlike spot Bitcoin ETFs registered under the Securities Act of 1933, the 1940 Act pathway provides a streamlined approval process.
According to Nate Geraci, President of ETF Store, the new launch will serve as “a key gauge for potential demand for a future 1933 Act spot XRP ETF,” noting that futures-based XRP ETFs are already approaching $1 billion in assets.
First U.S. Memecoin ETF
XRP won’t be the only altcoin making headlines this week. Bloomberg’s ETF analyst Eric Balchunas reported Monday that the Dogecoin ETF (ticker: DOJE) is scheduled to launch on Thursday.
Approved under the same 1940 Act framework, the Dogecoin product will be the first memecoin ETF in the United States, representing a milestone for the once-joke cryptocurrency.
This isn’t REX-Osprey’s first venture into altcoin ETFs. In July, the issuer launched the Solana Staking ETF (SSK), though demand has remained modest at $274 million in assets under management. In late August, the firm also filed for a BNB staking ETF.
A Growing ETF Pipeline
The momentum for crypto ETFs isn’t slowing. Bloomberg analyst James Seyffart noted that as of the end of August, more than 90 crypto-related ETF filings were awaiting SEC decisions.
Among them is a Litecoin ETF from Canary Capital, with a final ruling due in early October. Meanwhile, Bitwise filed a prospectus for a spot Avalanche ETF on Monday, joining VanEck and Grayscale, who also have active Avalanche proposals.
The SEC, however, recently delayed its rulings on Bitwise’s Dogecoin ETF and Grayscale’s Hedera ETF, extending their deadlines to November 12.
With XRP and Dogecoin ETFs set to launch this week, the altcoin ETF race is officially heating up, paving the way for more diversified crypto investment products in the U.S. market.
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