REX-Osprey’s new XRP ETF launched today, and it annihilated the old volume records. In its first 90 minutes of trading, XRPP saw 5x the volume of previous XRP-based futures products.
The partnership’s Dogecoin ETF also vastly outperformed expectations despite a few bearish signals. These breakout successes show just how powerful the altcoin ETF market might really be.
New XRP ETF Takes the CrownSponsored
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The prospect of an XRP ETF has attracted a lot of hype in the crypto community, especially because of all the regulatory near-misses.
REX-Osprey launched a US-listed XRP ETF today (September 18, 2025). It trades on Cboe under ticker XRPR.
Per the issuer, the fund aims to hold a majority in spot XRP with the remainder in XRP-backed ETPs, so it’s not a 100% “pure spot” structure, as some coverage notes.
SEMI-SHOCK: Rex XRP ETF $XRPP is already at $24m in volume. That is way more than I would have thought. For context it’s 5x more than any of the XRP futures ETFs did on Day One and it’s only been 90min. pic.twitter.com/DKIDD6noZF— Eric Balchunas (@EricBalchunas) September 18, 2025
This new XRP ETF completely smashed all the records established by previous futures products based on the token. In its first 90 minutes, XRPP made 5x the trade volume that these other offerings achieved in their entire first days.
At $24 million and counting already, this ETF’s volume could be an enduring record.
An Altcoin Investment Bonanza?
REX-Osprey launched another altcoin ETF today in addition to its XRP product. Markets were hesitant about their purported Dogecoin ETF, especially after unexplained delays, and DOGE traders didn’t seem interested. Sponsored
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However, this ETF also dominated bearish expectations, quickly posting $6 million in volume.
These ETFs aren’t just bullish for XRP and Dogecoin; they have bullish implications for the entire market. There are dozens of active altcoin ETF filings, but analysts have worried that big tokens like BTC and ETH will dominate the market.
REX-Osprey’s products, however, prove that altcoin ETFs are a certifiable hot commodity.
Why Rex-Osprey’s XRP ETF is Different
It’s important to note that XRPR differs from spot Bitcoin ETFs in structure and exposure. Unlike Bitcoin ETFs that directly hold the asset, XRPR uses a hybrid model under the Investment Company Act of 1940, combining spot XRP holdings with derivatives and exposure to other XRP-backed products.
This approach provides regulated access but introduces tracking risks, additional costs, and less transparency compared to “pure spot” Bitcoin or Ethereum ETFs.
The fund’s approval does not mean the SEC has broadly greenlit spot XRP ETFs. XRPR was able to launch due to updated listing standards that streamline certain crypto ETF approvals, but pure spot XRP ETF filings from major issuers remain under review.
In effect, XRPR represents a step forward in bringing XRP exposure to US markets. Still, it’s not the same regulatory milestone as the approval of spot Bitcoin ETFs earlier this year.
