First altcoin ETFs gain SEC clearance under 1940 Act
Washington, D.C. — The U.S. market is preparing for a landmark development in crypto investing: the launch of the first exchange-traded funds (ETFs) for XRP and Dogecoin. Fund manager REX-Osprey announced that both products cleared the Securities and Exchange Commission’s (SEC) 75-day review period and are expected to begin trading later this week.
XRP ETF to debut Friday
The REX-Osprey XRP ETF (XRPR) is slated for launch on Friday, giving investors direct exposure to the third-largest cryptocurrency by market cap. Unlike spot Bitcoin ETFs, which required approval under the stricter Securities Act of 1933, the XRP ETF was filed under the Investment Company Act of 1940. This framework allows products to go live automatically after the review period if the SEC does not object.
Industry experts see this as a critical test for demand. “This will be another good litmus test for ‘33 Act spot XRP ETF demand,” said Nate Geraci, president of ETF consultancy Nova Dius, noting that XRP futures ETFs are already nearing $1 billion in assets.
Dogecoin ETF DOJE to follow
The Dogecoin ETF (DOJE) is set to launch on Thursday, making it the first memecoin ETF in the United States. Bloomberg ETF analyst Eric Balchunas confirmed the timetable, adding that the Dogecoin fund also cleared the SEC review under the 1940 Act.
REX-Osprey is no stranger to innovation, having launched the first Solana staking ETF (SSK) in July. However, that fund has seen modest inflows of just $274 million in assets under management since launch. The firm has also filed for a BNB staking ETF, while other issuers are pushing for products tied to Litecoin, Avalanche, and Hedera.
Currently, over 90 crypto ETF applications remain pending with the SEC, according to Bloomberg’s James Seyffart. Decisions on some — including Canary Capital’s Litecoin ETF in early October and Bitwise’s Dogecoin ETF in November — will further test regulators’ appetite for altcoin-based products.
With XRP and Dogecoin ETFs now joining the U.S. market, analysts say this could mark a turning point for mainstream altcoin adoption, providing regulated access to two of the most recognized digital assets outside Bitcoin and Ethereum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.