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Is the US’ First XRP ETF Launching This Week?

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Written & Edited by
Landon Manning

15 September 2025 17:42 UTC
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  • REX Shares and Osprey Funds plan to launch an XRP ETF this week, with up to 25% of assets invested directly in XRP.
  • Unlike spot crypto ETFs, the fund is filed under the 40 Act, combining XRP exposure with bonds, cash, and other ETFs.
  • A Dogecoin ETF is also in the works, with its launch expected soon after recent delays, signaling wider ETF market expansion.
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REX Shares and Osprey Funds are reportedly joining forces to launch an XRP ETF this week. This product will have a few key differences from most spot crypto ETFs, but it’s a meaningful breakthrough.

REX-Osprey is also planning to launch a similar Dogecoin ETF, despite facing a few delays last week. These launches could provide valuable insight on a future ETF’s market impact.

A New XRP ETF?

The crypto community has been very eager for an XRP ETF for several months, but there hasn’t been much progress despite repeated efforts. There are a few rumors that such a product may hit US markets soon, but REX-Osprey made a bold claim that one is almost ready:

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So, is this product the US’ first XRP ETF? How would it compare to analogous products, such as BlackRock’s IBIT BTC ETF? According to REX Shares’ and Osprey Funds’ SEC filings, there are a few key points of interest. These two firms made several ETF applications which share a similar structure.

Important Differences

For one, this XRPR ETF doesn’t derive its sole value from the spot price of XRP. The filing claims that up to 25% of the fund’s total assets will consist of XRP investments, while the rest may consist of assets like US Treasury bonds, money market funds, cash and cash equivalents, etc. It may even invest in other crypto ETFs.

Furthermore, this XRP ETF is one of several filings under the 40 Act instead of the 33 Act. This implies that the product will have a meaningfully different structure from other common spot crypto ETFs.

When the SEC first approved the Bitcoin spot ETF, Gensler noted that there was a preexisting market for BTC futures products. XRP, unfortunately, does not have a corresponding market, which may be why the SEC hasn’t treated this new ETF with a similar gravitas.

A Huge Opportunity

Still, even if XRPR might not fit everyone’s definition of a spot XRP ETF, it won’t be alone. REX-Osprey filed for several products, but the Dogecoin ETF might also hit markets soon. It faced a few unspecified setbacks last week, but everything is reportedly in order for a Thursday launch:

Balchunas further claimed that several 33 Act Dogecoin ETFs might win SEC approval in the next two months. Regardless of the fine print, investors should keep an eye on these developments.

REX-Osprey’s new product could provide a lot of clues about a future XRP ETF’s market impact. Hopefully, its success will encourage regulators and issuers alike to keep up the fight to win full-throated approval.

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