According to Bloomberg ETF expert Eric Balchunas, REX-Osprey's XRPR ETF secured nearly $38 million in volume during its very first day of trading.
The term "natural" refers to trading driven by actual investors as opposed to artificial volume.
The XRPR ETF has managed to edge out Dan IVES Wedbush AI Revolution ETF (IVES), a tech-focused ETF related to semiconductors and artificial intelligence, as the biggest organic launch of 2025.
Spot ETF expectations
Of course, it should be noted that XRPR is an unorthodox spot ETF given that it does not have to go through the usual SEC approval process due to its unusual structure: it is a trust-like product with synthetic exposure.
That said, this level of demand is a good sign for an “onslaught” of 33 Act ETFs that are coming soon.
The list of issuers that are vying to launch spot XRP ETFs includes Franklin Templeton, Bitwise, and Canary Capital.
Dogecoin ETF makes top 5
While the new XRP ETF is undoubtedly stealing the spotlight with its successful debut, Rex-Osprey’s Dogecoin (DOJE) ETF also recorded decent numbers during the first day, showing that there is demand even for whimsical meme coins.
With $17 million in first-day volume, this is one of the top 5 launches of 2025.
To put this into perspective, more than 700 ETFs have already launched this year.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team