Today, September 18, 2025, marks a historic milestone for XRP: the launch of the first spot XRP ETF in the U.S., the REX-Osprey XRP ETF (ticker: XRPR), on the Cboe BZX exchange. This hybrid fund, structured as a regulated investment company under the 1940 Act, offers direct exposure to XRP through a subsidiary in the Cayman Islands, combining actual holdings of the token with some derivatives and treasuries to comply with tax and SEC regulations. Although it is not a "pure" spot ETF like those for Bitcoin or Ethereum, it represents a key step towards institutional adoption, facilitating access for traditional investors without the need for crypto wallets or exchanges.