U.S. debut of REX-Osprey's Dogecoin and Ripple-based Exchange Traded Funds announced
In a significant move for the cryptocurrency industry, REX-Osprey has announced the launch of two new exchange-traded funds (ETFs): the REX-Osprey DOJE ETF (DOJE) and the REX-Osprey XRPR ETF. These ETFs provide direct spot exposure to Dogecoin and XRP respectively, marking notable innovations in cryptocurrency investment products in the United States.
Following the announcement, both Dogecoin and XRP saw a surge in their prices and trading volumes. Dogecoin's price rallied, gaining 5.77% to reach $0.28, with its 24-hour trading volume surging more than 44% to $5.66 billion. XRP also jumped 3.05% to trade at $3.12, with trading volume up 75% to nearly $7.8 billion.
The launch of DOJE and XRPR expands investor access to digital assets and creates a bridge between the volatility of crypto markets and the familiar mechanics of traditional ETFs. For XRP, the launch offers a regulated haven for investors who may have been wary of direct ownership due to its complex legal history with the SEC.
Greg King, CEO of both REX-Osprey entities, spearheaded the development and launch of these ETFs in partnership with Osprey Funds. The SOL + Staking ETF, an earlier innovation by REX-Osprey, has amassed over $275 million in assets under management.
The launch of DOJE and XRPR offers a legitimacy test for Dogecoin, an asset whose value is largely derived from community sentiment. The success of these ETFs could potentially signal wider acceptance and mainstream adoption of Dogecoin and XRP as legitimate investment options.
In conclusion, the launch of DOJE and XRPR by REX-Osprey is a significant step forward in the evolution of cryptocurrency investment products in the United States. These ETFs offer investors a regulated and familiar way to invest in Dogecoin and XRP, potentially opening up these digital assets to a wider pool of investors.
Read also:
- Ford Discontinues Popular Top-Seller in Staggering Shift, Labeled as a "Model T Event"
- 2025 Witnesses a 27% Surge in Worldwide Electric Vehicle Sales, Despite Opposition to Electrification Policies in the U.S.
- Recorded surge in electric vehicle registrations during the initial half of the year
- Dubai-bound: Omega Seiki Mobility, an electric vehicle company from India, prepares for assembly establishment
