The launch of the RexOsprey Dogecoin ETF made an immediate and significant impact on the market, recording approximately $6 million in trading volume during its opening hour. This initial volume far exceeded analyst predictions, which had forecasted a day-one volume of around $2.5 million. The strong opening signals robust demand for a regulated Dogecoin product, attracting both institutional and retail investors.
As a result of this high trading activity, Dogecoin’s price rose by nearly 10% within hours of the ETF debut. This price surge was driven by increased buying pressure and positive market sentiment, as concentrated inflows into the ETF can amplify price moves for the underlying asset—especially in a market with limited depth.
The impressive opening volume also shortens the expected time to reach projected daily volume levels and boosts confidence in the likelihood of further institutional ETF filings being approved. The U.S. Securities and Exchange Commission’s ongoing review of additional Dogecoin ETF applications adds to this optimism, suggesting growing institutional involvement in the Dogecoin market.
Overall, the RexOsprey Dogecoin ETF’s strong debut highlights increasing investor appetite for regulated exposure to Dogecoin and marks a noteworthy milestone in the cryptocurrency’s evolving market landscape.
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