Crypto ETFs Expand: US Market Braces for XRP and Dogecoin ETF Debut
As authorities become more receptive to cryptocurrency investment products, two new altcoin exchange-traded funds that follow XRP and Dogecoin are anticipated to debut in the US this week. The fund issuer announced on Monday that the REX-Osprey XRP ETF would launch this week. It will be the first US ETF to give investors spot exposure to the third-largest cryptocurrency by market capitalization, and it will trade under the ticker XRPR.
Barring any additional delays, which are unlikely, REX and Osprey are anticipated to start trading on Friday after passing the Securities and Exchange Commission’s 75-day review period. The Investment Company Act of 1940, which offers a less complicated approval process than the Securities Act of 1933 used for spot Bitcoin ETFs, is where the product is scheduled to debut.
XRP and Dogecoin ETFs Mark New Era for Investors
This week will see the introduction of many cryptocurrency ETFs, including the XRP fund. Additionally, REX-Osprey Dogecoin ETF was approved under the 1940 Act, which is a framework commonly used for diversified ETFs and mutual funds. Additionally, it will be the US’s first memecoin exchange-traded fund.
As of now, the Doge ETF DOJE is slated for a Thursday launch,
Browse PostsEric Balchunas
90+ Crypto ETF Filings Pending: Litecoin and Avalanche ETFs in Focus
Analyst James Seyffart of Bloomberg ETF reports that as of the end of August, over 90 cryptocurrency exchange-traded products were awaiting SEC approval. He noticed that Canary Capital had made changes to its Litecoin ETF prospectus filing on Tuesday. The SEC is expected to make a final ruling on the matter within the first week of October. Additionally, on Monday, Bitwise submitted a prospectus for a spot Avalanche ETF. Seyffart stated that VanEck and Grayscale are the only two issuers with current filings for an Avalanche ETF.
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