Spot exchange-traded funds (ETFs) tied to XRP and Dogecoin (DOGE) launched in the U.S. on Thursday to strong investor demand, underscoring growing appetite for alternative crypto-focused investment vehicles.

Record-Breaking XRP ETF Debut

The REX-Osprey XRP ETF (ticker XRPR) traded $37.7 million on its first day, marking the largest ETF debut this year, according to Bloomberg senior ETF analyst Eric Balchunas. The launch surpassed previous records, including the Wedbush AI Revolution ETF (IVES), signaling robust interest in altcoin-linked investment products beyond bitcoin and ether.

XRP’s market capitalization recently exceeded that of traditional banking giant Citigroup, while Ripple, the company behind XRP, continues its efforts to expand in financial services, including a pending U.S. banking license application for cross-border payments.

Strong Debut for Dogecoin ETF

The REX-Osprey Dogecoin ETF (ticker DOJE) generated $17 million in first-day trading, placing it among the top five ETF launches of the year. The result is notable given Dogecoin’s status as a memecoin, demonstrating sustained investor enthusiasm for even non-traditional cryptocurrencies.

Regulatory Tailwinds

The successful debuts come after the Securities and Exchange Commission (SEC) approved a new streamlined listing standard for crypto ETFs, reducing approval times from roughly 240 days to about 75 days. First-day net inflows for both ETFs are expected to be released later Friday.

The record-breaking volume highlights strong investor demand for altcoin-focused ETFs, potentially signaling a new phase of institutional adoption for digital assets beyond bitcoin and ether.