Regulated Crypto Entry Makes Waves: XRP ETF Outperforms All Prior Debuts Within 90 Minutes

The REX-Osprey

ETF, which marks the debut of a U.S.-listed exchange-traded fund allowing direct access to spot XRP, saw $24 million in trades during its initial 90 minutes after launching on September 18, 2025—outperforming all earlier XRP futures ETFs on their respective opening days. Trading under the ticker XRPR on Cboe, this fund was designed under the framework of the 1940 Investment Company Act and blends outright XRP holdings with positions in XRP-based exchange-traded products (ETPs). This approach creates a regulated solution for U.S. investors seeking XRP exposure in compliance with domestic rules. Its strong start signals increasing demand for regulated and institutional-grade altcoin investment vehicles, as interest in diversified digital asset exposure grows beyond and .

The ETF’s introduction marks an important regulatory and operational achievement for XRP, which has historically been under close examination by the U.S. Securities and Exchange Commission (SEC). Unlike a fully “pure spot” ETF, the REX-Osprey XRP ETF employs a hybrid model that helps navigate some of the regulatory challenges tied to direct XRP exposure. This design, while introducing tracking differences and extra expenses relative to classic spot ETFs, illustrates the changing nature of crypto asset oversight. The fund was approved using revised listing criteria, sidestepping some earlier legal barriers that had previously delayed spot XRP ETF approvals.

XRPR’s robust performance is part of a larger wave of institutional enthusiasm for alternative cryptocurrencies; REX-Osprey also released a Dogecoin ETF the same day. Although initial reactions were skeptical, the Dogecoin ETF still managed $6 million in volume, highlighting substantial interest from both retail and institutional players in

coins and less dominant cryptocurrencies. The positive reception of both funds indicates a shift in market attitudes, as more investors aim to diversify across a broader spectrum of digital assets. Experts believe these new products could open the door for further altcoin ETFs, potentially transforming the range of crypto investment opportunities in the U.S.

The early success of the REX-Osprey XRP ETF highlights the increasing acceptance of cryptocurrencies in traditional finance circles. The fund’s rapid accumulation of trading volume points to a growing perception among conventional investors that digital assets are now a credible investment class. This trend is supported by a more organized regulatory approach, with the SEC gradually adopting clearer guidelines for crypto ETF approvals. Although XRP is still involved in legal disputes with the SEC, the emergence of regulated ETFs offers institutional investors a way to participate in the market indirectly. This development could prompt additional issuers to seek approval for similar funds, heightening competition and potentially reducing fees for market participants.

Looking forward, the REX-Osprey XRP ETF may become a template for upcoming crypto ETFs, especially those looking to blend regulatory adherence with investor demand. XRPR’s hybrid structure showcases how established financial entities can navigate the complexities of digital assets while remaining compliant with U.S. securities regulations. Should the fund maintain its strong performance, it could inspire other altcoins to pursue comparable strategies, speeding up the integration of cryptocurrencies into mainstream financial systems. Nonetheless, investors should be mindful of the added complexity and risks this setup introduces compared to straightforward spot ownership.