The first exchange-traded funds (ETFs) offering exposure to XRP and Dogecoin (DOGE) began trading in the U.S. on Thursday. These products, which track the two tokens, were launched by Rex Shares and Osprey Funds and are listed on the Cboe exchange under the tickers XRPR and DOJE. Unlike standard spot ETFs, these funds do not solely buy and hold the underlying assets. Instead, DOJE will not hold DOGE directly but will gain exposure through a subsidiary in the Cayman Islands using futures and other derivatives. In contrast, XRPR is designed to hold XRP directly and may invest in spot ETFs from outside the U.S. Both XRP and DOGE rank among the largest cryptocurrencies by market cap. The introduction of these ETFs follows prior approvals for Bitcoin and Ethereum funds, allowing institutional investors a more secure and practical means of exposure to cryptocurrencies without needing to manage the underlying assets themselves.

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