REX-Osprey’s Dogecoin ETF (DOJE) and XRP ETF (XRPR) commence trading on Sept. 18, according to information shared on Sept. 15.

Bloomberg senior ETF analyst Eric Balchunas confirmed DOJE starts trading on Sept. 18, noting that the TRUMP, BONK, and Bitcoin funds lack confirmed trading dates.

On the same day, REX Shares confirmed that the XRPR launch is scheduled for this week.

RIC structure

The REX-Osprey ETFs employ a registered investment company (RIC) framework that distinguishes them from traditional spot crypto ETFs and their own Solana ETF’s original approach.

Bloomberg ETF analyst James Seyffart explained that this structure provides operational flexibility while meeting regulatory requirements.

The RIC framework enables funds to hold spot crypto assets primarily while maintaining derivative usage capabilities and ETF investment options when market conditions demand flexibility.

This approach operates within established investment company regulations rather than corporate tax structures used by Bitcoin and Ethereum spot ETFs.

The structure offers different tax treatment, operational requirements, and regulatory oversight compared to C-corporations.

These differences affect investor return distribution methods while providing a middle path between pure spot exposure and complete structural innovation.

Solana ETF

REX-Osprey previously launched the Solana ETF (SSK) as a C-corporation before converting structures, demonstrating the team’s willingness to adapt regulatory approaches.

The Dogecoin ETF experienced delays from its original Sept. 12 expected debut, with Balchunas predicting the mid-week launch materialized.

The funds join the crypto ETF landscape as the Securities and Exchange Commission (SEC) approved five REX-Osprey ETFs despite structural differences from existing products.

Regarding standard crypto ETF applications, Seyffart noted that over 90 filings are awaiting a decision from the SEC. The first batch of approvals might happen in October, as some of the altcoin filings face their final deadline next month.

However, the SEC might delay the launch despite giving regulatory approval, as it recently did with multi-asset funds from Grayscale and Bitwise.

According to the Bloomberg analysts, the reason is that the regulator is finishing a framework to fast-track crypto ETF approvals, and wants to allow their trading after its conclusion.

Nevertheless, the REX-Osprey launches expand crypto ETF options beyond Bitcoin and Ethereum for now, offering exposure to other altcoins.

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Gemini made a strong entrance on Wall Street on Sept. 12, with its stock price surging over 50% within the intial hours of their first day of trading on the Nasdaq.

The stock, listed under the symbol GEMI, opened at $28 per share and quickly advanced in the opening hours.

Prices briefly touched $40 before settling near $33 by midafternoon, leaving Gemini with a market capitalization of roughly $1.3 billion, according to Yahoo Finance.

The closing price represented a gain of about 24% from its offering level.

Strong debut

Gemini raised approximately $425 million by selling 15.2 million shares. The final offer price exceeded both its original range of $17 to $19 per share and a later revision that set expectations between $24 and $26.

Following a few weeks of rumors, the exchange filed its registration statement with the Securities and Exchange Commission on Sept. 2 and reached the public market just 10 days later, reflecting investor demand for digital asset exposure.

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While not among the largest exchanges by trading activity, Gemini has built a reputation in the U.S. for emphasizing compliance and security. Trading on its platform accelerated in the days before the IPO.

Wave of crypto listings

The debut adds to a string of successful crypto-linked listings in 2025. Stablecoin operator Circle launched on the New York Stock Exchange earlier this year, with shares climbing from a $31 debut price to above $60, valuing the firm at more than $33 billion.

Blockchain financial firm Figure Technology Solutions also completed its IPO this week, notching a 24% first-day jump followed by additional gains.

Taken together, the listings highlight a resurgence of Wall Street interest in digital-asset equities, with investors seeking exposure to crypto companies after years of market volatility.

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Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has lined up Nasdaq as a strategic investor as it prepares to go public in New York this week, Reuters reported on Sept. 9, citing people briefed on the matter.

According to the report, the share sale could raise up to $317 million, with Nasdaq expected to buy about $50 million of stock in a private placement at the time of the offering.

Gemini plans to trade under the ticker symbol “GEMI.”

The arrangement is more than financial and Nasdaq’s stake will be paired with a partnership giving its institutional clients access to Gemini’s custody and staking products. In return, Gemini customers will be able to use Nasdaq’s Calypso platform to track and manage collateral.

Neither Nasdaq nor Gemini commented on the details. Reuters noted that the exchange’s plans could still shift depending on market conditions.

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Riding a rebound in listings

The offering comes as U.S. equity markets show renewed demand for new deals, with tech and crypto-related companies drawing strong investor interest. A successful debut would make Gemini the third publicly traded exchange after Coinbase and Bullish.

Gemini currently holds about $21 billion in client assets and has processed more than $285 billion in trading volume. Its business spans retail and institutional services, an over-the-counter desk, a credit card and trading in major tokens including Bitcoin, Ethereum and stablecoins.

Financially, the company reported a net loss of $282.5 million on $68.6 million in revenue for the first half of 2025, widening from a $41.4 million loss a year earlier.

The Winklevoss twins, who first rose to prominence through their legal battle with Facebook, invested heavily in Bitcoin in the early 2010s and became known as the “Bitcoin twins.” Their bid to take Gemini public is testament to how deeply digital assets are now tied to Wall Street.

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American Bitcoin (ABTC), a newly public bitcoin mining and treasury firm backed by Donald Trump Jr. and Eric Trump, opened for trade Wednesday morning after completing its merger with Gryphon Digital Mining (GRYP).

Wasting little time, the company filed for an at-the-market equity raise of up to $2.1 billion with which to continue building its bitcoin (BTC) holdings (which footed to 2,443 coins at the time of the merger).

Shares have rocketed 60% to $11 versus the $6.90 price at the time of the merger Tuesday evening.

Its the latest chapter in American Bitcoin’s rapid formation, which began in March through a combination of the Trump brothers’ American Data Centers and Canadian mining firm Hut 8 (HUT). Hut 8 now holds an 80% ownership stake in the newly listed entity.

American Bitcoin’s business combines bitcoin mining with a corporate treasury approach centered on accumulating the asset. Since its inception earlier this year, the company has amassed 2,443 bitcoin, worth approximately $160 million at current prices. This hybrid model — mining bitcoin while holding it as a balance sheet asset — mirrors strategies used by other high-profile mining firms such as Marathon Digital.

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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September 2, 2025

The Trump family’s cryptocurrency token, World Liberty Financial, stumbled on its first day of trading, erasing early gains and showing the immediate losses faced by investors.

WLFI, the governance token of the decentralized finance platform launched last year, began trading above $0.30 on Monday before sliding to $0.24, according to CoinGecko. That represented a more than 15% drop from intraday peaks.

The decline left WLFI with a market capitalization just below $7b, ranking it as the 31st largest cryptocurrency in circulation. Several of the world’s biggest exchanges, including Binance, OKX and Bybit, listed the token at launch, drawing immediate attention from traders.

Early Investors Allowed To Sell Up To 20% Of Holdings

The launch followed a July vote by investors to make WLFI tradable. Until then, the tokens functioned only as governance instruments, giving holders the right to weigh in on code changes and business adjustments. Early investors are permitted to sell up to 20% of their holdings, the company said.

That first 20% unlock, estimated at 3b to 5b tokens sold at presale prices of $0.015 and $0.05, triggered a wave of selling. The pressure tempered excitement from the debut and weighed on prices despite strong speculative demand.

According to the project’s official blog, 24.6b tokens were made available at the time of launch.

The Trump Factor: Driving Investor Interest

Trading activity was robust. Spot volumes hit $2.25b while derivatives turnover surged to between $3b and $8b, reflecting heavy positioning across futures platforms. Pre-market trading on venues such as Hyperliquid and Binance Futures had already signalled turbulence, with WLFI changing hands between $0.30 and $0.56.

Since its inception last year, World Liberty Financial has reportedly generated around $500m for the Trump family. The platform also issues a stablecoin and has been marketed as a gateway for retail investors into decentralized finance.

For early backers, the main attraction was the Trump name. Many said they believed the token’s value would rise on the strength of that connection rather than its technical design. The tradable launch gave them the first real chance to test that assumption in open markets.

World Liberty’s debut drew political scrutiny as well. Democratic lawmakers and ethics experts have warned that the Trump family’s crypto ventures raise conflicts of interest, given the president’s influence over digital asset regulation.

Influencer Trades Add To Speculative Frenzy Around WLFI

Traders also followed the token’s celebrity exposure. Blockchain analytics platform Lookonchain reported
that influencer Andrew Tate’s WLFI long was liquidated for a $67,500 loss Tuesday. Soon after, he re-entered the market with a new long. This move shows the highly speculative mood surrounding the token.

WLFI’s circulating supply at launch was limited to about 4% to 6.8% of the total, intensifying volatility. The combination of a constrained float, political ties and future unlocks has left market sentiment cautious despite heavy trading volumes.

The launch marked one of the most closely watched token debuts of the year. Its rocky first session showed the Trump brand’s drawing power and the risks of tying political capital to a speculative market.

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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August 28, 2025

American Bitcoin, the Bitcoin mining company backed by US President Donald Trump’s two sons, is preparing to begin trading on the Nasdaq in early September after finalizing a merger with Gryphon Digital Mining.

The company has secured both crypto-focused and traditional institutional investors for the all-stock deal, Asher Genoot, CEO of Hut 8, which owns 80% cent of American Bitcoin, told Reuters in an interview.

Anchor shareholders have already been lined up to support the debut.

Once the merger is completed, American Bitcoin will retain its name and trade under the ticker ABTC.

Trump Brothers and Hut 8 Retain Near-Total Control of American Bitcoin After Merger

Co-founders Eric Trump and Donald Trump Jr, together with Hut 8, will hold a combined 98% of the entity.

Genoot told Reuters that the team opted for a merger rather than a direct listing. He said the route gave the company better access to financing by leveraging an existing business already connected to capital markets.

American Bitcoin has been exploring acquisitions in Hong Kong and Japan to expand its footprint, the Financial Times reported earlier this month. Genoot confirmed that the company is actively assessing opportunities in Asia, with the aim of giving investors broader access to bitcoin-linked assets beyond the US.

He said that while discussions are under way, no firm commitments have been made. The focus, he added, is to create options for investors who cannot directly buy Nasdaq-listed crypto stocks due to local restrictions.

American Bitcoin Born From Hut 8’s Strategic Shift Into Infrastructure

Founded earlier this year, American Bitcoin emerged from Hut 8’s pivot away from pure crypto mining into energy infrastructure and data centres. The new venture, created in partnership with the Trump brothers, is now positioning itself as a global bitcoin miner with ambitions to expand through acquisitions and partnerships.

The strategy has been described as mirroring the approach of large US-listed bitcoin firms that use equity financing and mergers to accelerate growth. Genoot said the goal is to build a vehicle that can appeal to both institutional investors and retail traders looking for exposure to bitcoin through regulated exchanges.

Luxury car manufacturer Automobili Lamborghini said it will debut its latest sports car in the metaverse.

The Temerario and its GT3 counterpart will be available as limited edition digital collectibles in open-world metaverse Wilder World, according to an emailed announcement shared with CoinDesk on Monday.

The metaverse is a virtual reality world allowing humans to interact with each other, play games and transact, often involving digital version of real-life items.

There was a lot of hype around the metaverse during the digital asset bull market of 2021, with Mark Zuckerberg renaming Facebook “Meta” to reflect its focus in this area.

However, much of this interest faded over the subsequent two years, as user engagement stagnated and many companies shifting their attention to artificial intelligence (AI).

Lamborghini however is seemingly undeterred, teaming up with Web3 investment and development heavyweights Animoca Brands last year to create digital experiences for fans and customers.

The Italian car company is offering 590 Temerario streetcars and 10 of the GT3 counterparts for $300 apiece from July 11. The digital sportscars will be mintable on Wilder World, non-fungible token (NFT) marketplace OpenSea and Lamborghini’s own Web3 platform Fast ForWorld.