The New York Stock Exchange has officially approved Grayscale’s Dogecoin and XRP spot ETFs, setting the stage for both products to begin trading on Monday as institutional interest widens across speculative crypto assets.
Grayscale’s DOGE and XRP ETFs Get the Green Light
Grayscale secured final approval from NYSE Arca after the exchange filed its certification with the Securities and Exchange Commission, confirming both the Grayscale XRP Trust ETF (GXRP) and the Grayscale Dogecoin Trust ETF (GDOG) are ready for listing. The move marks a major step in expanding ETF exposure beyond flagship assets like Bitcoin and Ethereum.
Bloomberg ETF analyst Eric Balchunas first shared the approvals publicly, noting that Grayscale’s Chainlink ETF is also expected to debut within the coming week. The rapid rollout signals renewed momentum in the crypto ETF sector following regulatory easing.
DOGE ETF Expected to See Strong Debut Volume
The Dogecoin ETF represents a conversion of Grayscale’s long-standing DOGE trust, transitioning it into a fully tradable spot ETF that mirrors real-time market prices. Analysts project the product could generate as much as $11 million in first-day trading volume.
With the DOGE ETF entering a market increasingly hungry for speculative altcoin exposure, the launch carries significant implications. It could spark broader institutional experimentation with meme-backed assets and reinforce Dogecoin’s staying power in the digital asset landscape.
XRP ETF Competition Intensifies
Grayscale’s XRP ETF will debut alongside a competing fund from Franklin Templeton, with another entry from WisdomTree also awaiting its launch window. The arrival of multiple issuers underscores the race to gain early market share in an increasingly crowded ETF category.
This surge of XRP ETFs follows the breakthrough listing of Canary Capital’s XRPC ETF on Nov. 13, which recorded over $250 million in inflows on its first trading day. The inflow surge demonstrates deep investor demand, though XRP’s price has paradoxically slipped more than 18% since early November.
A Rapid Expansion of US Crypto ETF Offerings
Beyond Grayscale, a wave of issuers—including Bitwise, 21Shares, and CoinShares—has released their own XRP ETF products in recent weeks. This expansion comes after the SEC loosened restrictive checks on crypto ETFs following the end of the government shutdown.
These developments mark a pivotal moment for the US crypto market, where ETFs tied to alternative assets are gaining regulatory acceptance. As more niche products hit the market, competition is expected to intensify, potentially reshaping institutional portfolio strategies.