Wall Street’s appetite for crypto-based funds was on full display this week as Rex-Osprey brought two new products to market.
The firm’s XRP ETF (XRPR) smashed records on its first day, drawing in more than $37 million in trades and instantly becoming the most successful U.S. ETF debut of 2025.
Trading was fast and furious from the opening bell, with activity surpassing $24 million in under two hours. Analysts noted that no crypto futures ETF introduced this year came close to that pace, pointing to a sharp rise in demand for regulated exposure to alternative digital assets.
Not to be overshadowed, Rex-Osprey’s Dogecoin ETF (DOJE) also made a splash. Its first-hour tally of $6 million in volume pushed it toward a $17 million close, placing it among the year’s five strongest ETF launches across all asset classes.
A Different Regulatory Path
Unlike last year’s spot Bitcoin and Ethereum funds, which were registered under the Securities Act of 1933, Rex-Osprey chose a different playbook. Both of its new products are tied to Cayman Islands subsidiaries and operate under the Investment Company Act of 1940. This structure shows how issuers are experimenting with multiple regulatory routes to bring altcoins into mainstream finance.
Bloomberg’s Eric Balchunas called the surge in activity “a good omen” for the wave of altcoin ETFs expected later in the year, suggesting that investor interest is only just beginning.
Token Prices Lag Behind
The rush into ETFs didn’t lift the coins themselves. XRP slipped to $3.02, down 3% on the day, and has been stuck in a narrow band around the $3 mark all week. Dogecoin also eased, sliding 2% to $0.2735 after briefly touching a seven-month peak of $0.2879.
The divergence highlights an emerging trend in crypto markets: while institutions appear eager to gain exposure through regulated vehicles, spot demand from retail traders hasn’t followed with the same intensity.
What It Means for the Market
The debut of XRPR and DOJE underscores two key developments. First, investor demand for altcoin exposure is expanding well beyond Bitcoin and Ethereum. Second, ETF issuers are increasingly creative in navigating regulatory frameworks, a sign that competition to capture this market segment is heating up.
Whether token prices eventually catch up with ETF enthusiasm remains to be seen, but Rex-Osprey’s twin launches confirm one thing: investors are ready to experiment with new ways of holding crypto, even if the underlying assets stumble in the short run.
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Source: https://coindoo.com/xrp-etf-becomes-2025s-biggest-u-s-fund-launch/