🔥 UPDATE: VanEck’s Solana ETF VSOL is now live, offering staking yields.Meanwhile, Grayscale’s Dogecoin spot ETF could launch as early as Nov 24. https://t.co/sx0E4KO7Pj ...

Core Insights - The debut of the first US spot Dogecoin and XRP exchange-traded funds (ETFs) exceeded expectations, with significant trading volumes observed shortly after launch [1][2] - The REX-Osprey XRP ETF (XRPR) achieved over $24 million in trading volume within hours, while the REX-Osprey Dogecoin ETF (DOJE) surpassed $6 million in the first hour, indicating strong investor interest [1][2] Regulatory Environment - The launches of these ETFs reflect recent regulatory changes in the US, particularly following the election of President Donald Trump, who promised to create a more industry-friendly regulatory environment [3] - The resignation of Gary Gensler as chair of the Securities and Exchange Commission (SEC) has paved the way for a more favorable approach to cryptocurrency regulation [3][4] ETF Structure and Market Dynamics - Both DOJE and XRPR are structured as 40-Act ETFs, allowing them to launch without the lengthy approval process typically required by the SEC under the 1933 Securities Act [5] - These ETFs must hold the underlying tokens directly but can supplement their exposure with overseas spot ETFs and other instruments [6] - The Dogecoin ETF, despite being a parody token, has attracted institutional interest, commanding a 1.5% annual fee, significantly higher than the fees charged by leading Bitcoin ETFs [6][7]