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Dogecoin News Update: Crypto ETFs Indicate Widespread Adoption as XRP Launch Breaks $58M Trading Volume Record

Dogecoin News Update: Crypto ETFs Indicate Widespread Adoption as XRP Launch Breaks $58M Trading Volume Record

Bitget-RWA2025/11/16 21:16
By:Bitget-RWA

- Canary Capital's XRPC ETF shattered records with $58M in day-one trading, outperforming Bitwise's Solana ETF . - SEC's regulatory clarity accelerated crypto ETF launches, enabling XRPC's Nasdaq listing and spurring XRP/DOGE ETF proposals. - Dogecoin's DOJE ETF generated $17M in September, reflecting growing demand for meme-coin exposure despite hybrid structure. - XRP price dipped 3% but ETF outperformed 2024 launches, highlighting crypto's shift from speculative bets to mainstream assets. - Mixed crypto

If you take advantage of our partner offers, The Block may receive a commission, but this comes at no extra charge to you. The launch of

(ticker XRPC) has broken previous records, reaching $58 million in trading volume on its first day and reflecting a strong increase in investor interest for crypto-based exchange-traded funds.
Dogecoin News Update: Crypto ETFs Indicate Widespread Adoption as XRP Launch Breaks $58M Trading Volume Record image 0
This ETF, which follows the fourth-largest cryptocurrency by market cap, held by Bitwise’s Solana ETF (BSOL), which saw $57 million in trading on its opening day last year. The event is seen as a milestone for crypto ETFs, with experts predicting more innovation as regulatory guidelines become clearer.

The

ETF’s impressive debut is part of a larger movement of institutional players entering the crypto space. , the fund recorded $26 million in trades, according to Eric Balchunas, a senior ETF analyst at Bloomberg. This swift adoption points to changing attitudes, as crypto assets are increasingly viewed as mainstream financial products rather than just speculative plays. “The average perception of a crypto asset isn’t what determines an ETF’s success,” stated Bitwise CIO Matt Hogan on X, can attract significant investment.

Progress on the regulatory front has also sped up the introduction of crypto ETFs.

provided new guidance during the last government shutdown, making it clear that companies could move forward with public filings without needing a “delaying amendment.” Thanks to this, Canary was able to list XRPC on Nasdaq on Thursday, with the ETF complying with . Other companies such as Bitwise, 21 Shares, and Grayscale are now preparing to launch their own products, that are currently under review.

The

market is already seeing early momentum. REX Shares and Osprey Funds introduced a hybrid ETF (ticker DOJE) in September, which . Although DOJE is structured differently from standard ETFs—holding DOGE tokens directly and allocating 40% to related ETFs—it demonstrates the rising interest in meme-coin investments. With the SEC’s regulatory stance becoming more predictable, analysts expect a surge of DOGE ETFs, especially as the coin’s price swings attract retail traders looking for high-risk, high-reward plays.

Even with the strong ETF activity,

, trading near $2.30. Still, this didn’t stop investors, as XRPC’s launch outperformed nearly all other ETF debuts in 2024. The fund’s CEO, Steven McClurg, to the SEC’s more efficient approval process. Meanwhile, the wider crypto market presents a mixed picture: while and DOGE ETFs are attracting funds, a broader downturn persists, showing a split between speculative and long-term investment strategies.

The launches of XRPC and DOJE mark a significant turning point for the crypto industry. As more ETFs receive regulatory approval, the distinction between digital assets and traditional finance continues to

. For now, attention is on whether this will lead to lasting demand—and if the SEC’s changing approach will usher in a new phase of crypto investing.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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