DOGECOIN AND XRP ETFS BY GRAYSCALE CLEARED FOR NYSE LAUNCH

Grayscale’s Dogecoin (DOGE) and XRP (XRP) exchange-traded funds (ETFs) have officially been approved for listing on the New York Stock Exchange (NYSE) and are expected to debut later today, marking a major milestone for crypto investment products.

NYSE Arca, a subsidiary of the New York Stock Exchange, filed and disclosed two separate certifications with the Securities and Exchange Commission (SEC) on November 21, confirming its approval for listing and registration of Grayscale XRP Trust ETF Shares (GXRP) and Grayscale Dogecoin Trust ETF Shares (GDOG).

Grayscale’s GXRP fund provides investors with direct exposure to XRP, while GDOG tracks the spot price of Dogecoin (DOGE). These ETFs allow investors to access the cryptocurrencies in a regulated and secure manner without needing to hold the underlying assets themselves. Both funds operate as spot ETFs, meaning they hold the actual XRP and DOGE tokens in custody.

Market watchers are already looking ahead to the next wave of altcoin ETFs. Bloomberg ETF analyst Eric Balchunas suggested that Grayscale’s Chainlink ETF (GLNK) could be next. On Sunday, Balchunas wrote in an X post, “GLNK is coming soon as well, a week after, I think,” referring to the expected launch timeline.

Regarding first-day performance expectations, Balchunas predicted multi-million-dollar trading volumes for GDOG. “Initial guess, maybe $11 million. But will ponder more,” he added, highlighting investor interest in the debut of these crypto ETFs.

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Altcoin ETFs Show Strong Debuts Amid SEC Fast-Track Approvals

In recent weeks, several altcoin-focused ETFs, including those linked to XRP, Solana, Litecoin, and HBAR, have launched following updated SEC legislation that accelerated approvals previously delayed by regulatory procedures.

Late last month, Bitwise debuted its Solana ETF, which began trading alongside Canary Capital’s Litecoin and HBAR funds. Since then, new filings and launches from issuers such as Franklin Templeton, 21Shares, and Bitwise have rapidly entered the market.

Many of these ETFs recorded impressive day-one numbers. Bitwise’s Solana fund saw nearly $70 million in net inflows on its first day, while Canary Capital’s XRP ETF posted over $250 million at the close of day one, signaling strong investor interest in altcoin ETFs.

However, for Grayscale’s GXRP and GDOG ETFs, analysts expect a more muted debut. The broader crypto market continues to face headwinds, with Bitcoin trading below multi-month lows and erasing much of its gains from earlier in the year.

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Recent reports indicate that ETFs from Grayscale and BlackRock have led a wave of outflows, as investors engage in year-end profit taking and adopt a more risk-off approach amid market uncertainty.