Record Altcoin ETF Launch Indicates Widespread Acceptance

The

and exchange-traded funds made headlines on September 19, 2025, achieving a combined trading volume of $54.7 million on their first day—a figure that far surpassed what the industry had anticipated. Leading the way was the REX-Osprey XRP ETF (XRPR), which posted $37.7 million in trades, setting a new high for daily volume among all 2025 ETF launches. The Dogecoin ETF (DOJE) also impressed with $17 million in trading volume, earning it a place among the top five ETF launches of the year. Both funds easily cleared the customary $1 million mark seen on opening days, reflecting strong investor enthusiasm for gaining exposure to alternative digital assets.

The debut of the XRP ETF was especially notable, with trades totaling $24 million within the first 90 minutes—five times higher than the initial trading activity of previous XRP futures ETFs. Dogecoin’s ETF also outperformed projections, amassing $6 million in transactions in its opening hour. Industry experts, such as Bloomberg’s Eric Balchunas, called these numbers “surprisingly robust,” pointing to significant pent-up demand for ETFs centered on alternative cryptocurrencies.

The impressive results have been linked to the ETFs’ regulatory structure, which falls under the Investment Company Act of 1940 and allows for a 75-day review period instead of the typical 240-day timeline. Unlike

and ETFs that physically hold their assets, these particular funds give investors exposure to XRP and Dogecoin through subsidiaries based in the Cayman Islands and foreign traded securities. This setup facilitates regulatory compliance and also addresses access issues for investors. Recent actions by the SEC to approve new broad listing criteria have also simplified the process, potentially paving the way for more crypto ETF introductions in the future.

XRP and Dogecoin have both seen their market values climb in recent months; XRP even overtook

while Dogecoin retained its status as the leading memecoin. Nevertheless, both assets faced declines after being listed: XRP fell by over 3% within a day to $3.01, and Dogecoin dropped 6% to $0.27. Still, the performance of these ETFs highlighted a rising level of institutional trust in alternative coins, especially as Bitcoin and Ethereum ETFs have already drawn in $57 billion and $14 billion, respectively.

The introduction of these ETFs marks a significant evolution in the world of crypto investments. With over 90 more proposals pending for altcoin-focused funds, the achievements of

and DOJE could spark the launch of additional products. The SEC’s faster approval process, combined with an increasing desire for broader crypto investment options, suggests that the market is on the verge of further growth. As investors look for new ways to diversify, the acceptance of cryptocurrencies by major financial institutions appears to be entering a new era of mainstream integration.