Haciyev Reşit 
A historic development unfolded in the U.S. crypto investment world. Spot XRP and Dogecoin exchange-traded funds (ETFs) began trading on Thursday, September 18, achieving record trading volumes on their first day. Investor interest has made these products some of the most notable ETF launches of the year.
Hitting the Top on Day One
The XRP ETF (XRPR), launched by REX-Osprey, closed its first trading day with a $37.7 million volume. According to Bloomberg, this represents the highest first-day volume among the 710 ETFs launched in 2025. In just the first 90 minutes, the XRP ETF reached $24 million in trading volume, performing five times better than XRP futures ETFs.
- XRP traded sideways over the last 24 hours, hovering around $3.04.
Launched on the same day as XRP, the REX-Osprey Dogecoin ETF (DOJE) recorded a $17 million trading volume. This figure placed it among the top five ETF launches of 2025. DOJE had a strong start, reaching $6 million in trading volume during its first hour.
- Dogecoin (DOGE) traded slightly lower, down 0.5%, at around $0.27.
Bloomberg Analyst: “Strong Signal for 33 Act ETFs”
Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, stated on X that this success demonstrates both investor interest and the market’s growth potential:
“These results are a very positive signal for the 33 Act ETFs expected to launch soon.”
As is well known, the U.S. Securities Act of 1933 was previously used for issuing spot Bitcoin and Ethereum ETFs. In contrast, the XRP and Dogecoin ETFs were registered under the Investment Company Act of 1940.
This legislation regulates investor funds while allowing ETFs the flexibility to support their positions with foreign spot ETFs or similar instruments when necessary.
A New Era Begins for Crypto ETFs
ETF analysts interpret the strong start of the XRP and Dogecoin ETFs as the beginning of a new era for crypto markets. The U.S. Securities and Exchange Commission’s (SEC) recent approval of new regulations to accelerate crypto ETF listings further supports this view.
According to analysts, more than 100 new crypto ETF launches could take place next year.
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