The first exchange -traded funds (ETFS) Offers exposure to XRP and Dogecoin Started shopping in the US on Thursday.
Products offered by Rex shares and Osprey funds listed on CBOE BZX Exchange under the Tickers Doje and XRPR, and follows Rex-Osprey Solana Etf, which debuted in July. Doje traded recently for $ 26.90 and XRPR for $ 25.73.
However, Doje will differ slightly from similar products to the other tokens, as it will not keep DODE direct. Instead, it will use a Cayman Islands-based subsidiary to get exposure through futures and other derivatives.
While XRPR is structured to keep XRP directly, it will also invest in spot -TFs outside the United States to achieve exposure, Bloomberg Intelligence Analyst James Seyffart wrote on X.
XRP, the native token for the financial institutional payments-focused network XRP headbok, and Memecoin DOGE is the third largest and eighth largest crypto-tokens following market capital, according to Coindesk Data.
Spot Crypto Etfs debuted in the United States. In January 2024 after many years of rejection and delays from Securities and Exchange Commission (SEK). Bitcoin Funds were approved first, followed a few months later by ETFs offering spote for ether (Eth).
Buying shares in ETFS offers exposure to assets without having to take ownership of the underlying asset itself. As such, Crypto ETFs offer a means of direct exposure to cryptocurrencies without having to worry about storage, custody, and so on, making them a more practical and safe investment agent for deeply pocketed institutional investors.
