Markets
What to know: (Or maybe what NOT to know? 🤔)
- Behold, the first exchange-traded funds (ETFs) offering a peek into the wild world of XRP and dogecoin (DOGE) have sashayed into the U.S. on Thursday, as if the markets needed more excitement! 🎉
- Cboe-listed products from Rex Shares and Osprey Funds, with the oh-so-clever tickers XRPR and DOJE, have started trading. Because who doesn’t love a good ticker symbol? 🧐
- But wait! These aren’t your grandma’s “pure” spot ETFs. Oh no, there’s more to these than just buying and holding. It’s like a financial magic trick, but with more paperwork! 🎩✨
So, the first ETFs offering a glimpse into XRP and dogecoin started trading in the U.S. on Thursday. Big whoop, right? Well, hold onto your wallets, because it’s not as simple as it sounds! 🤑
Rex Shares and Osprey Funds, listed on the Cboe BZX exchange, have unleashed DOJE and XRPR upon the world, following their Solana ETF debut in July. DOJE was prancing around at $26.90, while XRPR was holding steady at $25.73. But here’s the twist: DOJE doesn’t actually hold DOGE directly. Instead, it uses a Cayman Islands-based subsidiary to dabble in futures and derivatives. Because why do things the easy way when you can make it complicated? 🏝️
XRPR, on the other hand, does hold XRP directly, but it also flirts with spot ETFs from outside the U.S. for that extra layer of exposure. As Bloomberg Intelligence analyst James Seyffart quipped on X, “It’s like a financial salad – a bit of this, a bit of that.” 🥗
XRP, the fancy token for financial payments, and DOGE, the meme king, are the third and eighth largest crypto tokens by market cap, according to CoinDesk. Because who needs real money when you can have internet jokes and fancy ledgers? 🤡
Spot crypto ETFs finally debuted in the U.S. in January 2024 after years of the SEC playing hard to get. Bitcoin funds got the green light first, followed by ether (ETH) a few months later. Because nothing says “we’re serious” like dragging your feet for years! 🐢
Buying shares of ETFs lets you dip your toes into the crypto pool without actually owning the assets. No storage, no custody, just pure exposure. Perfect for those deep-pocketed institutional investors who like their investments as secure as a fortress – or as confusing as a Dahl plot! 🏰
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2025-09-18 20:15