For the first time in the United States, an exchange-traded fund tracking the price and offering spot exposure of the third-largest cryptocurrency, XRP, has begun trading.
The REX-Osprey XRP ETF was listed on Thursday with the ticker symbol XRPR. The two firms also launched their REX-Osprey DOGE ETF on Thursday under the ticker symbol DOJE.
Other firms have looked to list and trade XRP ETFs and have taken on a different process than REX Shares and Osprey. REX Shares and Osprey pursued a path to compliance by registering the product under the Investment Company Act of 1940 — a federal law that regulates investment funds that pool capital from investors to pursue a common investment strategy in an effort to protect investors from conflicts of interest and fraud.
XRPR uses a similar legal structure as the REX Osprey SOL Staking ETF when it launched in June and has some legal workarounds. REX-Osprey’s Solana fund was the first, and remains the only, exchange-traded product to track the price of SOL. That fund was also the first to launch in the U.S. with staking rewards.
REX Shares and Osprey Funds are separate companies that collaborate strategically to issue ETFs, primarily focused on crypto exposure.
“Investors look to ETFs as trading and access vehicles,” said Greg King, CEO and founder of REX Financial and Osprey Funds, in a statement. “The digital asset revolution is already underway, and to be able to offer exposure to some of the most popular digital assets within the protections of the U.S. ’40 Act ETF regime is something REX-Osprey is proud of and has worked diligently to achieve.”
Bitwise, Canary, 21Shares, WisdomTree, and other firms are looking to launch an XRP ETF as well and are awaiting the SEC’s approval. Those proposals were filed under the Securities Act of 1933, which undergoes a different process than the REX-Osprey XRP ETF.
Dozens of proposals have been filed for several types of crypto ETFs over the past year, from ones tracking DOGE to LTC to SOL. The SEC has taken a friendlier stance toward the crypto industry, specifically toward crypto ETFs, and signs point to the agency approving those funds starting in the next several weeks.
During the Biden administration, the SEC greenlit spot bitcoin ETFs and later Ethereum ETFs, following a pivotal court ruling brought by Grayscale.
On Wednesday, the SEC approved listing standards for crypto ETFs, marking a significant move for firms looking to launch certain digital asset ETFs. The agency also approved the Grayscale Digital Large Cap Fund, which tracks cryptocurrencies such as XRP, SOL, and DOGE.
Meanwhile, the CME Group, one of the world’s largest derivatives exchanges, said this week that it plans to launch options on Solana and XRP futures on Oct. 13 pending regulatory review.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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