Headline: Спотовые ETF на XRP и Dogecoin стартовали с объёмом торгов в $55 млн, избежав традиционных регуляторных путей Translation: Spot ETFs on XRP and Dogecoin launched with a trading volume of $55 million, circumventing traditional regulatory pathways.

On September 18, REX Shares and Osprey Funds launched spot ETFs based on XRP and Dogecoin in the United States. According to Bloomberg market analyst Eric Balchunas, the total trading volume for the first session reached $55 million.

«XRPR achieved a volume of $37.7 million, surpassing IVES and becoming the leader among all 2025 launches. DOJE also performed well with $17 million, which secured its place in the top five out of 710 funds this year,» he noted.

The expert stated that the trading volume of the spot XRP-ETF exceeded $24 million within the first 90 minutes—significantly higher than trading volumes for futures-based products linked to the asset. Balchunas described the results as “shockingly” robust, given that trading volumes for most instruments typically fall below $1 million on the first day.

Both products do not fall under the category of traditional ETFs approved by the SEC, as they are registered under the 1940 Investment Company Act. This act allows for a shorter application review period of 75 days, compared to the 240 days required by the 1933 Securities Act under which Bitcoin and Ethereum ETFs are launched.

A key feature is that XRPR and DOJE do not hold cryptocurrencies directly. Instead, they invest in a subsidiary of the issuers based in the Cayman Islands, which manages the assets.

The new funds also acquire shares in foreign exchange-traded products from Europe and Canada that track the prices of XRP and Dogecoin.

Asset prices did not react to the success of the new ETFs. The meme coin’s value fell by 1.6% in the past day, trading at $0.27 at the time of writing.

XRP experienced a decline of 1.4% over the last 24 hours, dropping to $3.

It’s worth noting that the SEC has streamlined the listing process for crypto ETFs. Analysts have predicted the launch of new investment products in the U.S. «in the coming weeks and months.»