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Launch: XRPR begins trading as a spot XRP ETF in the U.S.
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Structure: Issued under the Investment Company Act of 1940, not the usual ’33 Act path.
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Context: Joins REX-Osprey’s SOL (with staking) and same-day DOJE listing; more XRP ETFs await SEC action.
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Market backdrop: SEC approved listing standards for crypto ETFs; CME eyes options on SOL/XRP futures Oct. 13 (pending review).
A first for spot XRP in the U.S.
REX Shares and Osprey Funds listed XRPR, offering U.S. investors spot exposure to XRP via a ’40 Act ETF structure. The partners also launched DOJE (Dogecoin) the same day, expanding their crypto lineup beyond June’s SOL fund, which was the first U.S. ETP to bundle staking rewards.
The ’40 Act route vs. the ’33 Act
Most pending XRP ETF applications from Bitwise, 21Shares, WisdomTree, and others were filed under the Securities Act of 1933, which follows the traditional spot ETP review. REX-Osprey used the ’40 Act, a framework designed for registered investment companies that can enable active management and offers different investor protections and compliance obligations.
A friendlier regulatory climate
Following court wins and the successful launches of spot BTC and ETH ETFs, the SEC has approved listing standards that streamline crypto ETPs meeting set criteria, potentially cutting review timelines. Separately, CME Group plans to launch options on SOL and XRP futures on Oct. 13, subject to regulatory clearance—another signal of institutionalization.
Why XRPR matters
The XRP listing extends the market’s menu of spot crypto exposures beyond BTC and ETH inside regulated wrappers. For allocators constrained to ETFs, the product provides brokerage-account access without direct token custody, while potentially catalyzing liquidity and price discovery in U.S. hours.
