Dogecoin, XRP Spot ETFs See Record First-Hour Trading Volumes As SEC Announces New Listing Standards

Group 1 - Dogecoin and XRP are experiencing significant rallies due to the launch of their ETFs coinciding with the SEC's announcement of new "generic listing standards" for crypto exchange-traded products [1][2] - The new rules could allow for automatic approvals of ETF filings within 75 days if they meet specific requirements, streamlining the current slow case-by-case process [1][2] - The presence of regulated futures contracts is likely a criterion for these new ETFs, potentially paving the way for products based on other cryptocurrencies like Solana, Chainlink, and Cardano [2] Group 2 - Predictions indicate that between 1% and 4% of XRP's circulating supply could be absorbed by ETFs in the first year, translating to 600 million to 2.4 billion tokens valued at $1.8 to $7.2 billion at current prices [3] - The DOJE ETF recorded an impressive trading volume of $5.8 million in its first hour, significantly higher than the typical $1 million for most ETF launches [4] - The spot XRP ETF achieved a trading volume of $24 million within 90 minutes of its launch, which is five times the volume of futures XRP ETFs, highlighting strong demand for these products [4]