RT BSCN (@BSCNews)FIRST-EVER XRP AND DOGECOIN SPOT ETFS LAUNCH IN THE U.S.- REX Shares and Osprey Funds debuted the first U.S.-listed spot ETFs tied to $XRP and Dogecoin $DOGE on the Cboe BZX Exchange.The XRPR ETF- The XRPR ETF offers direct exposure to XRP, a token powering cross-border payments on the XRP Ledger.- It trades under the Investment Company Act of 1940, providing regulatory safeguards, and opened with record demand.- First-hour volume topped $24M, outpacing all prior XRP futures ETFs. By the e ...

COMMENT: Both funds give traditional investors easier access to digital assets, removing the need for self-custody or crypto wallets.BSCN (@BSCNews):FIRST-EVER XRP AND DOGECOIN SPOT ETFS LAUNCH IN THE U.S.- REX Shares and Osprey Funds debuted the first U.S.-listed spot ETFs tied to $XRP and Dogecoin $DOGE on the Cboe BZX Exchange.The XRPR ETF- The XRPR ETF offers direct exposure to XRP, a token powering cross-border https://t.co/krofz2JkSC ...

FIRST-EVER XRP AND DOGECOIN SPOT ETFS LAUNCH IN THE U.S.- REX Shares and Osprey Funds debuted the first U.S.-listed spot ETFs tied to $XRP and Dogecoin $DOGE on the Cboe BZX Exchange.The XRPR ETF- The XRPR ETF offers direct exposure to XRP, a token powering cross-border payments on the XRP Ledger.- It trades under the Investment Company Act of 1940, providing regulatory safeguards, and opened with record demand.- First-hour volume topped $24M, outpacing all prior XRP futures ETFs. By the end of the session, ...

Core Insights - Ripple's price reached $3.10 on September 18, driven by the anticipated Fed rate cut and the launch of XRP ETFs by Rex Shares, resulting in a 5% price increase over the week [1][4] - Rex Osprey launched the first U.S.-issued ETFs for Spot Dogecoin and Spot XRP, with the XRPR ETF primarily holding spot XRP [2] - Institutional demand for ETFs as trading vehicles for cryptocurrencies is emphasized by Rex Osprey's CEO, highlighting the importance of regulatory protections [3] Market Reactions - XRP gained 4% following the ETF news but faced resistance at the $3.10 mark, underperforming compared to other altcoins [4] - XRP futures trading volumes surged by 140%, exceeding $10 billion, while open interest increased by 6.7% to $9 billion, indicating significant market activity [5] - The increase in open interest relative to spot price gains suggests new capital is entering the market, supporting a potential bullish breakout [6] Additional Insights - Rex Osprey's Solana Staking ETF has attracted nearly $300 million in inflows within three months, with Solana's price rising 68% during the same period [7]

Core Insights - The Investment Company Act of 1940 ('40 Act') provides a faster pathway for firms to launch spot crypto ETFs, as demonstrated by REX-Osprey's rapid approval of its spot Ripple (XRP) fund [2][3][7] Group 1: Regulatory Framework - The '40 Act was established to minimize self-dealing, fraud, and mismanagement in financial firms, particularly after the 1929 Stock Market Crash and the Great Depression [1] - REX-Osprey's XRP ETF must maintain a diversified portfolio, requiring 80% XRP along with cash, treasuries, and derivatives, which deviates from a "pure" spot ETF structure [4][7] - Firms under the '40 Act must register with the SEC, outline their objectives, and adhere to strict reporting standards to ensure investor protection [3][4] Group 2: Approval Process - The typical review process for spot crypto ETFs under the Securities Act of 1933 can take up to 240 days, while the '40 Act allows for a reduced review period of 75 days for applications with similar precedents [5][7] - The SEC has the authority to exempt certain rules under the '40 Act if alternative safeguards are in place, as seen with REX-Osprey's use of a Cayman Islands subsidiary for XRP holdings [6][8] - REX-Osprey's XRP ETF launch was initially set for September 12 but was delayed to September 18, indicating some regulatory scrutiny despite the expedited process [8]