New XRP and Dogecoin ETFs are scaling their entry into traditional markets with recent listings and approvals. Several products are already trading and others are expected in the coming days, covering spot, leveraged, and futures exposures. Early trading has shown significant volumes and sharp price reactions that contextualize their institutional impact.
REX‑Osprey opened the door to a U.S. spot offering using the Investment Company Act of 1940, launching XRPR (XRP spot) and DOJE (Dogecoin spot) around Sept. 18, 2025. Canary Capital listed its spot XRP, XRPC, on Nasdaq on Nov. 13, 2025, and recorded $58 million in first‑day trading volume, according to available data; Bitwise Asset Management launched its Spot XRP ETF with the ticker XRP on the New York Stock Exchange on Nov. 20, 2025. ProShares pursued an alternative route with an XRP futures ETF planned for July 18, 2025, pending regulatory approvals, adding a derivatives‑based option alongside spot products.
In Dogecoin, in addition to the spot DOJE, House of Doge and Brag House listed a 2x long ETF, TXXD, on Nasdaq on Nov. 20, 2025, aimed at higher risk tolerance investors. Grayscale projected the launch of a physically backed Dogecoin ETF, possibly as soon as Nov. 24, 2025, while other issuers, including Bitwise and 21Shares (with TDOG in the process of listing with DTCC), maintain filings under review and face SEC decision delays on various dates.
Recent and upcoming launches of XRP and Dogecoin ETFs
Market reactions were mixed: XRPC debuted with high volume, but the price of XRP registered a pullback between 2.7% and 8% after the listing, reflecting a “sell‑the‑news” pattern often seen in speculative assets. Dogecoin experienced a 21% rise linked to approval news before a 50% “flash crash” due to macroeconomic factors, then stabilized near $0.19 and traded around $0.25 in subsequent sessions, highlighting the volatility and sensitivity of the market to regulatory and macro news.
The use of the Investment Company Act of 1940 by some issuers signals a strategy to accelerate spot listings versus longer processes, adding structural diversity across spot, futures, and leveraged products and raising considerations around liquidity, custody, and institutional flows. Debut volume and the presence of leveraged products point to institutional demand, while early volatility warns of operational and market risks for unsophisticated investors.
The immediate window of interest is the week of Nov. 24, 2025, when Grayscale could list its Dogecoin spot and when the market will evaluate institutional uptake after the first days of trading.
