The first US ETFs on XRP and Dogecoin launched on Thursday with a trading volume of $54.7 million. This was well above the usual $1 million first-day volume for new ETFs.

The REX-Osprey XRP ETF (XRPR) alone achieved $37.7 million in trading volume. According to Bloomberg analyst Eric Balchunas, this was the largest day-one volume of any ETF launch in 2025. $24 million was traded in the first 90 minutes alone.

$XRPR traded $37.7m on Day One, which edges out $IVES for the biggest day one (natural) $ volume of any 2025 launch. $DOJE is no slouch at $17m, which would be Top 5 for year.. out of 710 launches. Good sign for the onslaught of 33 Act ETFs coming soon.. pic.twitter.com/JaQP9ekFIq

— Eric Balchunas (@EricBalchunas) September 18, 2025

The REX-Osprey DOGE ETF (DOJE) also significantly exceeded expectations. Instead of the projected $2.5 million, it reached $17 million, placing it among the top 5 of more than 700 ETF launches this year.

Both ETFs were approved under the Investment Company Act of 1940. Unlike Bitcoin or Ethereum ETFs under the “33 Act,” the structure invests in foreign ETPs and subsidiaries to track the prices of XRP and DOGE.

Analysts see the strong figures as a positive sign for the multitude of other crypto ETF applications currently awaiting SEC approval. Many of these involve speculative altcoins or new instruments such as staking products.

Despite the ETF boom, XRP and Dogecoin were unable to sustain their rally. XRP recently traded at around $3, while DOGE fell back to $0.27.

Since the beginning of the year, the Ripple coin has already risen by 45 percent. XRP recently sent a significant technical signal by breaking above both the 50-day EMA and the red diagonal resistance line.