September 18, 2025, marked a turning point for digital asset investing as REX-Osprey, the joint venture between REX Shares and Osprey Funds, launched the first U.S.-listed spot exchange-traded funds (ETFs) dedicated to Dogecoin (DOGE) and XRP.
The products, trading under the tickers DOJE and XRPR on Cboe, give investors direct access to two of the most recognizable cryptocurrencies through a regulated structure.
Opening a Regulated Path to Dogecoin and XRP
According to the company’s statement, the DOJE ETF will hold most of its assets directly in Dogecoin, offering investors a familiar brokerage-based entry point to the meme-fueled token that has captured global attention since its rise in 2021.
Meanwhile, the XRPR ETF is designed around XRP, a cryptocurrency often associated with fast, low-cost cross-border payments and growing institutional interest.
Both ETFs operate under the Investment Company Act of 1940, a framework that provides investor protections and regulatory oversight. By embedding crypto into this long-standing structure, REX-Osprey aims to balance the volatility of digital assets with the trust of traditional markets.
Building on Earlier Success with Solana
The new listings build on the firm’s earlier breakthrough with the REX-Osprey SOL + Staking ETF (SSK), which launched in July 2025. That fund was the first in the U.S. to pair spot Solana exposure with staking rewards and has already gathered over $275 million in assets under management.
In September, SSK transitioned into a Regulated Investment Company (RIC) structure, enhancing tax benefits for investors while preserving its on-chain yield model.
REX-Osprey CEO and founder Greg King emphasized the importance of this new chapter, noting that ETFs remain one of the most effective access points for mainstream investors:
“The digital asset revolution is well underway. To provide exposure to assets like Dogecoin and XRP within the protections of the U.S. ’40 Act ETF framework is something we’re proud to deliver. It’s about expanding access while ensuring investors have the safeguards they expect.”
Legitimacy Test for DOGE and Opportunity for XRP
For Dogecoin, the debut of DOJE is more than just another investment product; it represents a milestone in legitimacy. Often dismissed as a meme coin, DOGE’s value has historically been driven by its passionate online community and high-profile endorsements. By bringing the asset into a regulated ETF, REX-Osprey may help shift perception toward greater institutional credibility.
In the case of XRP, the XRPR ETF provides a clearer avenue for investors who have been cautious due to the token’s long-standing legal battles with the U.S. Securities and Exchange Commission. Now with ETF exposure, XRP could attract a broader investor base that values compliance and regulatory clarity.
Market Reaction
The announcement sparked immediate moves in the crypto market. Dogecoin surged 5.77% to $0.28, while its 24-hour trading volume jumped more than 44% to $5.66 billion. XRP also climbed 3.05% to $3.12, supported by a dramatic 75% rise in trading volume to nearly $7.8 billion.
Analysts suggest these early gains reflect both retail enthusiasm and the possibility of greater institutional adoption now that spot DOGE and XRP exposure is available in an ETF wrapper.
Looking Ahead
The debut of DOJE and XRPR underscores how far digital assets have come in just a few years. What began as fringe experiments, whether meme-driven or regulatory-challenged, are now finding a place in regulated U.S. financial markets. For investors, these ETFs open new pathways to crypto exposure, and for Dogecoin and XRP, they may mark the beginning of deeper integration into mainstream portfolios.
