The first exchange-traded funds (ETFs) offering exposure to XRP and Dogecoin (DOGE, $0.2076) began trading in the U.S. on Thursday.

The products, launched by Rex Shares and Osprey Funds, are listed on the Cboe BZX exchange under the tickers DOJE and XRPR, following the debut of the Rex-Osprey Solana ETF in July. At the time of listing, DOJE was trading at $26.90 and XRPR at $25.73.

DOJE differs from similar token-based ETFs in that it will not hold DOGE directly. Instead, it will gain exposure through futures and other derivatives via a Cayman Islands-based subsidiary. XRPR, on the other hand, is structured to hold XRP directly while also investing in spot ETFs from outside the U.S., according to Bloomberg Intelligence analyst James Seyffart.

XRP, the native token of the payments-focused XRP Ledger, and memecoin DOGE are the third- and eighth-largest cryptocurrencies by market capitalization, per CoinDesk data.

Spot crypto ETFs first launched in the U.S. in January 2024 after years of SEC delays and rejections, beginning with bitcoin (BTC, $115,801.12) ETFs, followed by ether (ETH) spot ETFs.

Crypto ETFs allow investors to gain exposure to digital assets without owning them directly, eliminating concerns over storage and custody. This structure provides institutional investors with a practical and secure way to participate in the cryptocurrency market.