The impressive first day debut highlights growing investor appetite for alternative investment vehicles tied to altcoins.
By
Omkar Godbole, AI Boost|Edited by Sheldon Reback
Updated Sep 19, 2025, 7:56 a.m. Published Sep 19, 2025, 5:15 a.m.
Spot exchange-traded funds (ETFs) tied to the payments-focused XRP XRP$3.0297 and the top meme token, dogecoin DOGE$0.2731, debuted in the U.S. on Thursday with a bang, drawing significant trading volume.
The REX-Osprey XRP ETF, listed on Cboe under the ticker XRPR, registered a trading volume of $37.7 million, marking the largest debut volume of any ETF launch this year, according to data shared by Bloomberg senior ETF analyst Eric Balchunas.
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This first-day tally outpaced the previous record holder, Dan Ives’ Wedbush AI Revolution ETF (IVES), signaling strong investor appetite for alternative investment vehicles linked to coins beyond bitcoin BTC$116,502.90 and ether (ETH).
XRP’s market capitalization recently surpassed that of traditional banking giant Citigroup. Furthermore, Ripple, the company behind XRP, which facilitates cross-border transactions, has applied for a banking license in the U.S.
Traders also embraced the REX-Osprey Dogecoin ETF, ticker DOJE, which generated a first-day volume of $17 million. This placed DOJE among the top five ETF debuts of the year.
DOJE’s strong performance is notable given Dogecoin’s reputation as a non-serious memecoin.
The successful start to these two ETFs follows the Securities and Exchange Commission's decision to approve a new, streamlined listing standard for crypto ETFs, reducing approval times to about 75 days from 240 days.
First-day net inflow figures are expected to be released later Friday.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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