Mainstream Adoption of Crypto Accelerates as Altcoin ETFs Gather Traction

September 2025 marked a pivotal moment for the U.S. crypto ETF sector when the initial exchange-traded funds (ETFs) dedicated to tracking

and were introduced. The REX-Osprey XRP ETF (XRPR) and Dogecoin ETF (DOJE) jointly saw $54.7 million in trading activity on launch day, far surpassing what analysts had anticipated and reflecting heightened interest from both institutions and individual investors in alternative digital assets. XRPR, focused on XRP, took the lead with $37.7 million in volume—outdoing the prior year’s ETF launch record—while DOJE, centered on Dogecoin, drew $17 million, ranking it within the top five ETF rollouts of 2025 XRP and Dogecoin ETFs Launch with Record-Breaking $54.7 Million First-Day Volume [ 1 ].

Both ETFs outperformed the usual trading activity seen with new funds, which typically amass under $1 million on their first day. Eric Balchunas, a senior ETF analyst at Bloomberg, had forecasted DOJE’s launch day volume at $2.5 million; however, the fund traded $6 million within its first hour, which he described as “remarkably strong” First Dogecoin ETF Outperforms Expectations, Trading Nearly $6M in First Hour on Wall Street [ 2 ]. XRPR also beat projections, with $24 million traded in the first hour and a half—five times more than what XRP futures ETFs achieved on their debuts XRP and Dogecoin ETFs Rally as Debut Volumes Smash Expectations [ 3 ]. These impressive numbers signal a shift in investor attitude, as more traders seek regulated paths to gain exposure to cryptocurrencies beyond

and .

The structure of the XRP and Dogecoin ETFs stands apart from conventional crypto funds. Registered under the Investment Company Act of 1940—not the Securities Act of 1933—they skipped the standard 240-day review, receiving regulatory approval in just 75 days. This approach, however, introduces certain limitations: the ETFs are not permitted to directly own the underlying coins, so they utilize subsidiaries in the Cayman Islands to acquire tokens and invest in foreign crypto-related ETFs. Despite these restrictions, the funds attracted robust liquidity, suggesting that investors value easy and quick access over the specifics of fund architecture Dogecoin Jumps 8% as First U.S. DOGE ETF Doubles Forecast with $6M Debut [ 4 ].

Their launch occurred alongside broader changes in regulation. On September 18, 2025, the U.S. Securities and Exchange Commission (SEC) approved updated rules for listing, making the approval process for spot crypto ETFs more efficient and potentially paving the way for funds tied to altcoins like

and . This regulatory evolution, along with the successful rollouts of XRPR and DOJE, may trigger a surge of new crypto ETFs, further establishing this emerging asset class XRP and Dogecoin ETFs Surge in 2025 Market Debut [ 5 ].

Market response highlighted the significance of these launches. Dogecoin (DOGE) shot up 8% to reach $0.281 within the first 24 hours after the ETF went live, propelled by excitement from both retail traders and business interest.

, a listed cleaning services firm, disclosed a $170 million investment and announced plans to build up to 5% of the circulating Dogecoin supply. These developments indicate a rising institutional confidence in meme coins, despite their high-risk image Dogecoin Jumps 8% as First U.S. DOGE ETF Doubles Forecast with $6M Debut [ 6 ].

The strong showing of the XRP and Dogecoin ETFs reflects a larger trend toward diversification in the crypto markets. Although Bitcoin and Ethereum ETFs still attract the most attention, funds focused on alternative coins are gaining momentum as investors look for exposure to specialized projects with unique use cases. XRP’s emphasis on streamlining cross-border payments and Dogecoin’s energetic community support make them standout candidates for ETF products. According to analysts, these ETFs may pave the way for future offerings focused on tokens that combine practical utility with speculative potential, especially as the regulatory landscape becomes more welcoming to crypto innovation XRP and Dogecoin ETFs Surge in 2025 Market Debut [ 7 ].