Grayscale’s Dogecoin and XRP exchange-traded funds (ETFs) are set to begin trading on the New York Stock Exchange (NYSE) on Monday, following a green light from both the SEC and NYSE Arca.
Quick Summary (TLDR):
- Grayscale’s DOGE and XRP ETFs will launch on November 24 on the NYSE after regulatory approvals.
- First-day DOGE ETF trades could hit $11 million, according to Bloomberg analyst Eric Balchunas.
- Grayscale Chainlink ETF is expected next week, expanding its altcoin offerings.
- The launch adds to a surge of altcoin ETFs, including competition from Franklin Templeton, Canary Capital, and others.
What Happened?
The SEC and NYSE Arca have officially approved Grayscale’s XRP and Dogecoin ETFs, setting the stage for both funds to go live on November 24. The launch comes as Grayscale transitions its existing Dogecoin trust into a publicly traded ETF format.
Grayscale Expands ETF Lineup as NYSE and SEC Signal Support
Grayscale’s newest ETFs join a growing list of altcoin investment products hitting the market this month. The Grayscale Dogecoin Trust ETF (GDOG) and the Grayscale XRP Trust ETF (GXRP) were cleared after NYSE Arca filed with the SEC for listing and registration approval. These ETFs will now trade under their respective tickers, marking a milestone for crypto-based financial products.
According to Eric Balchunas, a senior ETF analyst at Bloomberg, GDOG could see trading volumes reach $11 million on its first day. He also noted that Grayscale’s Chainlink ETF ($GLNK) is expected to debut within the following week.
Grayscale Dogecoin ETF $GDOG approved for listing on NYSE, scheduled to begin trading Monday. Their XRP spot is also launching on Monday. $GLNK coming soon as well, week after I think pic.twitter.com/c6nKUeDrtI
— Eric Balchunas (@EricBalchunas) November 21, 2025
This approval marks the final regulatory hurdle for Grayscale’s spot DOGE and XRP ETFs and highlights a broader push by asset managers to bring speculative cryptocurrencies into mainstream investment vehicles.
Altcoin ETF Market Sees Competitive Surge
Grayscale enters an increasingly crowded ETF space, especially for XRP. Earlier this month, Canary Capital launched the first spot XRP ETF in the US, achieving over $250 million in inflows on day one and ending its first session with around $250 million in assets under management.
Other financial firms such as Franklin Templeton, WisdomTree, Bitwise, 21Shares, and CoinShares have also announced or launched XRP ETF offerings, making XRP one of the most competitive crypto ETF segments at the moment.
Meanwhile, Grayscale’s DOGE ETF is not the first of its kind. In September, REX Shares and Osprey Funds launched a DOGE ETF under the 1940 Investment Company Act, allowing them to bypass direct SEC approval. However, Grayscale’s move is seen as more formalized and transparent, attracting greater attention from institutional investors.
Market Conditions Remain Cautious
Despite a wave of ETF launches, the crypto market is facing headwinds. On November 20, investors pulled $548 million from Bitcoin ETFs, including $355 million from BlackRock’s iShares Bitcoin Trust, reflecting wider unease as markets slumped to a nine-month low.
Notably, XRP prices have dropped roughly 18% since the start of November, according to CoinGecko. While ETFs are typically seen as bullish indicators, the broader market conditions are dampening investor sentiment.
Daily Research News Takeaway
I think this launch is a big deal, not just for Grayscale but for the entire crypto ETF space. It shows growing trust from regulators and traditional exchanges like the NYSE. Even though the market is shaky right now, these ETF approvals signal that mainstream finance isn’t stepping away from crypto. Instead, it’s doubling down. Personally, I’m watching to see how these products perform on day one, especially that $11 million DOGE volume prediction.
