- XRP and Dogecoin ETFs debut September 18, marking the first U.S.-listed altcoin ETFs.
- Funds use a Cayman Islands subsidiary structure instead of direct token holdings.
- Over 90 additional crypto ETF applications remain under SEC review, with decisions expected soon.
The long wait for altcoin exchange-traded funds in the United States is ending. Starting tomorrow, financial institutions Rex Shares and Osprey Funds will debut the nation’s first ETFs linked to Ripple’s XRP and Dogecoin (DOGE). The launch represents the first time investors will access the two digital assets through regulated products listed on U.S. exchanges. Both funds have been cleared under the Investment Company Act of 1940, a framework regulators view as offering enhanced investor protections.
Launch Details and Structure
According to filings, the XRP-focused product will trade under the name REX-Osprey XRP ETF (XRPR), while the Dogecoin ETF will list as DOJE. Both funds will appear on major trading platforms, including either the Nasdaq or the New York Stock Exchange.
The structure differs from spot Bitcoin and Ethereum ETFs. Instead of holding tokens directly, the funds gain exposure through a Cayman Islands subsidiary wholly controlled by the ETF. Up to 25% of total assets may be allocated this way, while the remainder stays in line with U.S. regulations. The prospectus also allows the use of derivatives tied to XRP and DOGE, ensuring compliance with tax rules for regulated investment companies.
Broader Filing Context
Rex-Osprey filed both products under a single prospectus. Alongside XRP and Dogecoin, it included applications for ETFs linked to Solana-based tokens TRUMP and BONK. Those products have not been scheduled for release.
The same 1940 Act structure was used in June when Rex-Osprey introduced its Solana staking ETF, which became the first of its category. That precedent allowed the company to accelerate approval for XRP and DOGE products without undergoing the lengthier review process required for commodity-trust style ETFs registered under the 1933 Securities Act.
Implications for Altcoin ETFs
Tomorrow’s launch comes as more than 90 crypto ETF applications remain pending with the Securities and Exchange Commission. Assets tied to Avalanche, Litecoin, and Solana are among those waiting. Analysts expect some decisions by October, with approval probabilities considered high.
ETF analysts Eric Balchunas and James Seyffart confirmed the September 18 trading start after a short delay from the initial September 12 plan. They noted that these listings expand access for traditional investors who can now buy shares through standard brokerage accounts without setting up crypto wallets.
The SEC’s decision to allow XRP and DOGE ETFs under the 1940 Act signals growing regulatory openness to altcoin exposure. The move also positions these products as a potential entry point for further ETF development across the digital asset market.
