This week saw another step forward for digital assets as Dogecoin and XRP both launched US exchange-traded funds. At the same time, regulators introduced rules to speed up approvals for future ETFs, companies revealed large Solana holdings, Australia eased rules for stablecoins, and Pudgy Penguins continued to build momentum in gaming and retail.
The big headline was the debut of the REX Osprey Dogecoin ETF (ticker: DOJE) and the REX Osprey XRP ETF (ticker: XRPR), which are now trading on US markets with a combined first-day volume of more than 54 million US dollars. This marks the first time investors have had regulated access to DOGE and XRP, signalling that regulators are becoming more open to a broader range of crypto assets. Both ETFs carry a 1.5% fee, higher than most Bitcoin and Ethereum products, but the bigger story is their recognition alongside the top digital assets. Adding to the momentum, the SEC approved new listing standards that allow exchanges such as Nasdaq and Cboe to bring crypto ETFs to market faster without lengthy reviews. This change could open the door to funds for Solana, Avalanche and even other memecoins in the near future.
Away from ETFs, Solana continued to gain traction with institutions. Corporate treasuries holding SOL now top 4 billion US dollars, representing around 3% of the supply. Forward Industries disclosed more than US$1.6 billion in holdings, while Sharps Technology, DeFi Development Corp and Upexi each allocated over US$400 million. The trend shows that companies are starting to view Solana as more than a retail favourite, with growing confidence in its long-term role as a platform for payments and decentralised applications.
In Australia, financial regulator ASIC introduced exemptions for intermediaries distributing stablecoins from licensed issuers. This means platforms can offer stablecoins without needing a full financial services licence themselves, provided the stablecoin issuer is licensed. The change reduces compliance costs while still maintaining oversight, making it easier for stablecoins to be used in payments and trading.
Meanwhile, Pudgy Penguins’ new mobile game Pudgy Party has been downloaded more than 750,000 times in under three weeks. Players have praised how the Web3 elements are smoothly integrated without disrupting gameplay. The brand was also highlighted in the latest earnings report from Bullish exchange, which called it the “mascot of crypto” thanks to its retail toy sales and fast-growing game. While the chance of a Pudgy ETF being approved before October is still low, prediction markets give almost a 50% chance that a listed US company could add a Pudgy NFT to its treasury this year.
Together, these developments show how quickly crypto is moving into the mainstream. With Dogecoin and XRP ETFs now trading, regulators creating faster approval paths, institutions building large Solana reserves and Web3 brands gaining wider recognition, the industry is steadily embedding itself into both finance and culture. The next few months could bring more ETF launches, stronger institutional adoption and further growth of projects that bridge crypto with everyday life.
More news stories circulating the block:
- Wormhole ($W) launches reserve and new tokenomics
- Metaplanet takes its Bitcoin strategy into the US
- Helius raises US$500M for Solana treasury growth
- AIOZ rolls out creator-focused Web3 streaming platform
- ARK Invest boosts exposure with US$130M in Bullish shares
- PayPal to add Bitcoin, Ethereum and PYSD to peer-to-peer payments
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