The first U.S. exchange-traded funds (ETFs) for XRP and Dogecoin (DOGE) are set to debut this week, marking a significant milestone for altcoin and memecoin adoption in traditional finance. Financial institutions Rex Shares and Osprey Funds have registered these products under the Investment Company Act of 1940, with an expected listing on Thursday, September 18, 2025.
The ETFs, named $XRPR for XRP and $DOJE for Dogecoin, will not hold the underlying assets directly. Instead, they will gain exposure through a Cayman Islands-based subsidiary, REX-OspreyTM XRP (Cayman) Portfolio S.P., which may also use derivatives tied to XRP and DOGE. This structure differs from spot Bitcoin and Ethereum ETFs, which are backed by physical reserves of the assets.
Greg King, CEO of REX Financial, emphasized the importance of these ETFs as trading and access vehicles, stating: "The digital asset revolution is already underway, and to be able to offer exposure to spot XRP and other crypto returns within the protections of the US ’40 Act ETF regime is something Rex-Osprey is proud of."
Bloomberg ETF analysts Eric Balchunas and James Seyffart confirmed the Thursday launch date for DOJE and XRPR, though noted that other planned ETFs for Trump-themed tokens (TRUMP) and Bonk (BONK) lack a set launch date. Analysts previously called approvals for Dogecoin, Solana, and XRP ETFs a "near lock" for later this year, with over 90 other crypto ETF applications pending SEC approval.