First U.S. XRP and Dogecoin ETFs may launch this week
This week, REX Shares and Osprey Funds may launch the first U.S. ETFs based on the cryptocurrencies XRP (XRP) and Dogecoin (DOGE).
By September 19, the 75-day period since the submission of derivative creation applications will expire. Therefore, if the U.S. Securities and Exchange Commission (SEC) does not object, two funds will appear on the market:
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REX-Osprey XRP ETF (XRPR)
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REX-Osprey Dogecoin ETF (DOJE)
The DOJE units are expected to be listed on September 18, and XRPR shares will be added to the exchange on September 19. For this reason, volatility in XRP and Dogecoin prices is expected by the end of the week. The amplitude of price fluctuations will depend on the capital inflow into the ETFs: if demand is high, a bullish rally with strong corrections is possible.
However, statistics from the Solana Staking ETF (SSK), created by REX Shares and Osprey Funds based on Solana (SOL), suggest that XRP and DOGE markets will not experience major turbulence. Since trading SSK started on July 2, only $274 million has been invested in the derivative, and over the last five trading sessions, capital inflow into the fund was less than $25 million.
NovaDius financial organization president Nate Geraci believes XRPR will attract significant investor interest. He explains that the market capitalization of the XRP futures-based ETF is approaching $1 billion. Meanwhile, DOJE is likely to face an unfortunate fate, as ETF traders generally avoid meme coins.
See also: "Tom Lee identified Bitcoin and Ethereum growth factors in Q4"
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