Rex-Osprey’s XRP ETF Beats IVES In Biggest 2025 ETF Launch

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Well, folks, grab your hats and hold onto your wallets because Rex-Osprey’s new XRP exchange-traded fund (XRP ETF) has stormed onto the scene with a bang! This little gem finished its debut session with a whopping $37.7 million in trading volume, leaving Wedbush’s Dan Ives AI fund (IVEs) trailing in the dust. Yes, that’s right, $37.7 million – making it the largest “natural” day-one dollar volume of any ETF launch in 2025. According to Bloomberg Intelligence’s Eric Balchunas, that’s more than impressive. And let’s not forget Dogecoin’s ETF (DOJE), which closed at $17 million – a figure so solid it’d still rank among the top five debuts this year out of 710 launches.

“XRPR traded $37.7m on Day One, which edges out IVES for the biggest day one (natural) $ volume of any 2025 launch. $DOJE is no slouch at $17m, which would be Top 5 for year.. out of 710 launches. Good sign for the onslaught of 33 Act ETFs coming soon..,” said Balchunas, posting on X (the platform formerly known as Twitter). Well, if that doesn’t get your crypto juices flowing, I don’t know what will.

And let’s talk about the *surprise* here, shall we? In the first 90 minutes, the XRP fund had already crossed $24 million – that’s FIVE times more than any of the XRP futures ETFs on their opening day. “SEMI-SHOCK: Rex XRP ETF is already at $24m in volume,” Balchunas remarked, barely able to contain his excitement.

As for Dogecoin’s debut, it wasn’t exactly sitting quietly either. “My over/under got destroyed in the first hour of trading as DOJE already posting nearly $6m in volume. That’s shockingly solid.. Most ETFs trade under $1m on Day One,” Balchunas pointed out, practically rubbing his eyes in disbelief.

Why The XRP And Dogecoin ETF Are Big Surprises

So, what’s all the fuss about, you ask? Well, for starters, these two funds – XRP (XRPR) and Dogecoin (DOJE) – are listed on Cboe and they don’t follow the usual ‘33 Act’ framework. No, these launched under the Investment Company Act of 1940, which carries a more “rigorous” set of rules and a slightly different exposure design. What does that mean? In simple terms, these funds have less wiggle room than your typical crypto fund, but somehow, they still managed to smash expectations out of the park.

Balchunas had his doubts before the launch, citing the difference in structure and the fact that these weren’t big-time issuers. But it turns out, those doubts were about as reliable as a fortune cookie prediction. The XRP and Dogecoin funds not only caught the eye of crypto fans, they left everyone else in the dust – including Dan Ives’ AI Revolution ETF, which was supposed to be 2025’s breakout star.

And if you think that’s enough, just wait for the regulatory game-changer. On September 18, the SEC approved new listing standards across major US exchanges for spot commodity ETPs, which opens the floodgates for crypto ETFs beyond Bitcoin and Ether. Not to mention, Grayscale’s Digital Large Cap Fund was also given the green light to list. These changes could very well spark a wave of new crypto ETFs, making it a thrilling time to be in the market.

ETF strategist Nate Geraci made it clear: “Looks like the first index-based spot crypto ETF launches tomorrow… Grayscale CoinDesk Crypto 5 ETF. Holds BTC, ETH, XRP, SOL, & ADA. IMO, index-based & actively managed spot crypto ETFs will be met w/ *significant* demand, esp from financial advisors. Will be *huge* category.” Well, Nate, I think you’ve just convinced me to dust off my crypto portfolio.

And just for the record, as of now, XRP is trading at a sweet $3.04. Who said crypto can’t be fun? 💸

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2025-09-19 12:13