Nate Geraci Confirms REX Osprey’s First Doge and XRP ETFs

Key Highlights: 

• REX-Osprey launched the first-ever Dogecoin ETF (DOJE) and XRP ETF. 
• The XRP ETF is the first U.S. listed ETF with spot exposure to XRP.
• Both ETFs allow investors to gain crypto exposure without directly owning the crypto. 

Nate Geraci, ETF analyst and president of NovaDius Wealth Management, has announced on X (formerly known as Twitter), the launch of two new U.S. exchange-traded funds (ETFs). The REX-Osprey DOGE ETF (ticker: DOJE) is the first ETF to give direct spot exposure to Dogecoin (DOGE), while the REX-Osprey XRP ETF (ticker: XRPR) is the first U.S. listed ETF which will offer spot exposure to XRP, the native cryptocurrency of Ripple.

The two ETFs were launched through a partnership between REX Shares and Osprey Fund. Nate Geraci, a well-known ETF analyst, shared this news on social media. He called the funds to be important because they are the first of their kind to give regulated access to Dogecoin and XRP through traditional markets.

The Historic Launch of Dogecoin ETF

The DOJE ETF is the first regulated fund under the 1940 Act that is built to give direct spot exposure to Dogecoin. This token is best known as a memecoin which has Shiba Inu dog as its mascot. This token has now grown into a well-known cryptocurrency with a global community and rising adoption.

With this ETF option, the concerns of custody and security that are usually associated with owning crypto outside brokerages are removed. It allows investors to benefit from Dogecoin’s price moves through a regulated and simple vehicle, without needing wallets or exchange accounts.

This launch has the capacity to open doors for other memecoins and alternative cryptocurrencies to gain recognition and acceptance from regulated investors. It also shows that there is a growing demand from institutions and a push to expand crypto exposure beyond Bitcoin and Ethereum.

As soon as this news broke, the price of the memecoin also expressed a slight uptick, in the past hour, the token has experienced an uptick of 0.1% as per CoinGecko. At press time, the price of the token stands at $0.2815 with an uptick of 5.7% in the last 24 hours as per CoinGecko.

Moreover, Bloomberg ETF analyst Eric Balchunas said that the new DOJE fund may see around $2.5 million in trading on its first day. He explained that while this a good enough start, it might not be very high compared to other “first-ever” crypto ETFs.

One reason that has been stated is that the DOJE has been approved under 1940 Act rules, which are known to be a little stricter than 1933 Act rules. Also, it is also being assumed that since this ETF is not launched by a big, well-known issuer, these factors could limit some of the early excitement.

Introducing the First Spot XRP ETF

Along with Dogecoin, the XRPR ETF is also the first U.S. listed fund to give direct spot exposure to XRP. This token is widely known for powering Ripple Lab’s blockchain, which is mainly focused on cheaper and faster cross border payments.

The XRPR ETF will be holding spot XRP along with some XRP-backed products, giving investors regulated exposure to the token’s role in global payments.

Even though there have been regulatory hurdles in the past, this launch signals a growing acceptance of XRP as a legitimate asset, making it easier for both retail and institutional investors to add it to their portfolios.

At press time, the price of the token stands at $3.12 with an uptick of 3.1% in the last 24 hours and 0.1% in the past hour as per CoinGecko.

This launch also indicates that the regulators are now opening up to more crypto ETFs that are beyond Bitcoin and Ethereum, paving the way for similar products tied to other tokens.

Also Read: Bitcoin Rally Toward ATH Hinges on $118K Breakout