First-Day Data for US Dogecoin (DOGE) and XRP ETFs Arrives! Bloomberg Analyst Comments!

A historic development took place in the cryptocurrency market, with spot ETFs directly tracking the price of Dogecoin (DOGE) and XRP starting trading in the US for the first time ￰1￱ launched in collaboration with REX Shares and Osprey Funds include the REX-Osprey XRP ETF (XRPR) and the REX-Osprey DOGE ETF (DOJE). These two funds offer spot-based access to the two assets, allowing investors to invest directly in DOGE and XRP via the ￰2￱ and DOGE Exceed Expectations! Investors flocked to the first Dogecoin and XRP exchange-traded funds in the US, as these ETFs were long-awaited, exceeding analysts' trading volume ￰3￱ ETF analyst Eric Balchunas said the REX-Osprey XRP ETF (XRPR) reached $37.7 million in volume on its first day of trading, while the DOGE ETF reached $17 million.

“The XRP ETF XRPR reached $37.7 million in first-day trading volume, surpassing IVES for the largest first-day volume for any launch in ￰4￱ didn't perform badly at all, with a trading volume of $17 million among 710 launches, which would rank in the top 5 of the ￰5￱ and DOJE were among the best performing ETFs launched this year.” Eric Balchunas said that the XRP and DOGE ETF inflows are a positive signal for altcoin ETFs to be approved in the near ￰6￱ had kept expectations low! Balchunas said before the ETFs were launched that he expected the REX-Osprey DOGE ETF (DOJE) to reach a volume of $2.5 million on the first day, which would be a significant figure but “not something very special.” However, Balchunas later said that his expectations were shattered in the first hour of trading, as the DOGE ETF's volume approached $6 million.

“This is surprisingly strong and exceeded my ￰7￱ ETFs trade below $1 million on the first day,” the analyst ￰8￱ had also kept his expectations low for ￰9￱ this point, the analyst said that XRPR achieved $24 million in volume in the first hour and a half of its launch, marking a very fast start. “Much more than I ￰10￱ context, XRPR saw 5x more volume on its first day than XRP futures ETFs did on their first day, and it did so in just 90 minutes.” ￰0￱ *This is not investment ￰11￱ Reading: First-Day Data for US Dogecoin (DOGE) and XRP ETFs Arrives! Bloomberg Analyst Comments!