Simply put
- The inaugural American spot ETF providing exposure to XRP launched on Thursday.
- Bloomberg analyst Eric Balknas expressed surprise at the initial trading volume of the Rex-Soprey XRP ETF.
- XRP prices are experiencing an uptick, with many users hopeful it will reach the new peak of $4.
On Thursday, XRP prices surged as investors eagerly engaged with the newly introduced US Exchange Spot Fund linked to the cryptocurrency.
XRP has seen a roughly 2% increase in the last 24 hours, recently hitting around $3.11, according to data from Coingecko. Still, it remains about 15% shy of its all-time high of $3.65 reached in July.
This rise follows the launch of the Rex-Soprey XRP ETF by Rex Shares and Osprey Funds, the first fund to give investors access to Ripple-related assets. Impressively, it generated nearly $25 million in trading volume within just 90 minutes of going live.
Semi-shock: Rex XRP ETF $xrpp already has a volume of $24 million. That’s far beyond my expectations. To put it in context, it’s five times what any of the XRP futures achieved on their first day, and that’s just after 90 minutes. pic.twitter.com/dkidd6nozf
– Eric Balchunas (@ericbalchunas) September 18, 2025
Balknas remarked on his astonishment regarding the ETF’s trading volume, emphasizing that it exceeded his expectations significantly.
“It’s much more than I anticipated,” he stated. “In fact, it was five times the amount seen on any XRP futures ETF’s first day of trading, and that was just within 90 minutes.”
XRP, a product of Fintech Ripple, serves as the native token for the XRP Ledger blockchain, designed to facilitate rapid monetary transactions for institutions and banks.
The Rex-Soprey XRP ETF made its debut on the same day as the introduction of the Dogecoin ETF, also from Rex-Soprey.
Dogecoin experienced a robust launch, with its prices soaring during ETF trading. Balknas noted that the Dogecoin ETF amassed nearly $6 million within its first hour, which challenged his prior projections.
Unlike last year’s Bitcoin and Ethereum ETFs, these new offerings expose investors to Dogecoin and XRP via Cayman Islands-registered subsidiaries, where they are entirely managed and owned.
Rex-Soprey established these funds under the 1940 Investment Companies Act rather than the 1933 Securities Act. There’s speculation that more altcoin ETFs, among others, might emerge, especially in light of the recent SEC guidelines that helped clarify standards for product-based funds.
There’s optimism for XRP’s trajectory; many believe it could reclaim record prices. Nearly 60% of users think a rise to $4 is probable, with these chances appearing to have strengthened over the past two weeks.
