XRP, Dogecoin ETFs Launch This Week: Altcoin Milestone Achieved
Wall Street's embrace of crypto accelerates as XRP and Dogecoin ETFs hit markets this week—mainstream adoption just got real.
Breaking the Altcoin Barrier
Traditional finance finally cracks open the altcoin vault. XRP and Dogecoin—once dismissed as memes and regulatory headaches—now trade alongside blue-chip ETFs. Institutions pile in, betting retail demand follows.
Market Impact Unleashed
Liquidity surges as ETF inflows kickstart buying pressure. Trading volumes spike, volatility squeezes, and price discovery gets a turbocharge. Short sellers scramble while long-term holders cheer.
The Regulatory Green Light
SEC approval signals broader acceptance—or just desperation for fee revenue. Either way, the gatekeepers folded. Now every altcoin with a pulse eyes the ETF queue.
Cynical Take: Wall Street only loves decentralization after it’s safely wrapped in a ticker symbol and a 2% management fee.
Dogecoin fund launch imminent
The XRP (XRP $2.98) fund is not the only altcoin ETF slated for launch this week.
“As of now, the Doge ETF DOJE is slated for a Thursday launch,” said Bloomberg’s ETF expert Eric Balchunas on Monday.
REX-Osprey Dogecoin (DOGE $0.2667) ETF also gained approval under the 1940 Act, a framework typically used for mutual funds and diversified ETFs. It will also be the first memecoin ETF in the United States.
REX-Osprey launched the first solana staking ETF (SSK) in July. However, interest in the fund has been lackluster with just $274 million in assets under management since it launched, and less than $25 million in inflows over the past five trading days, according to Farside Investors.
In late August, REX-Osprey also filed for a BNB (BNB $919.67) staking ETF.
A slew of altcoin ETFs in the pipeline
Meanwhile, more than 90 crypto exchange-traded products are waiting for SEC approval as of the end of August, according to Bloomberg ETF analyst James Seyffart.
Related: SEC delays BlackRock, Franklin Templeton crypto ETF decisions
On Tuesday, he observed that Canary Capital had updated the prospectus filing for their Litecoin ETF, which is due for final decision by the SEC in the first week of October.
