Grayscale just got the green light to list its new Dogecoin and XRP ETFs on the New York Stock Exchange — and they’re set to go live later today.
This is a big moment for both coins.
Here’s the short version:
- NYSE Arca received official approval to list Grayscale’s new spot ETFs: GXRP (XRP) and GDOGE (Dogecoin).
- ETF analyst Eric Balchunas thinks GDOGE could see around $11 million in trading volume on day one.
- These ETFs give people a way to invest in XRP and Dogecoin without owning the actual coins.
NYSE Arca filed the final certifications with the SEC on November 21, confirming everything needed for the listing. That means both ETFs are fully cleared to start trading.
If you’re not familiar with how these products work, it’s pretty simple:
- GXRP follows the real price of XRP.
- GDOGE follows the real price of Dogecoin.
- And because they’re spot ETFs, they actually hold the crypto behind the scenes.
So investors get regulated exposure to the coins — but without needing wallets, private keys, or self-custody.
More altcoin ETFs may be coming
Analysts are already talking about what could launch next. Bloomberg’s Eric Balchunas said he expects Grayscale’s Chainlink ETF (GLNK) to arrive soon — maybe as soon as next week.
And when asked how much activity GDOGE might see when trading opens, he guessed around $11 million in first-day volume. Not bad, especially for a new altcoin ETF.
Altcoin ETFs are heating up
Over the past few weeks, the SEC has been moving faster than usual, which has opened the door for many new crypto ETFs. We’ve already seen ETFs for XRP, Solana, Litecoin, and HBAR hit the market.
Just last month:
- Bitwise launched a Solana ETF.
- Canary Capital released ETFs for Litecoin and HBAR.
- Big firms like Franklin Templeton, 21Shares, and Bitwise have also jumped in with their own filings and launches.
Some of these funds had impressive first days:
- Bitwise’s Solana ETF pulled in almost $70 million at launch.
- Canary’s XRP ETF saw over $250 million on day one.
But today’s environment is tougher
Even though the new ETFs are exciting, the overall crypto market is struggling right now. Bitcoin has dropped to multi-month lows, giving up most of the gains it built earlier this year.
At the same time, ETFs from Grayscale and BlackRock have been seeing steady outflows as investors lock in profits and take a more cautious approach heading into the end of the year.
So while GXRP and GDOGE will launch today, the trading activity might be quieter compared to what we saw with Solana or XRP ETFs earlier in the rollout.
Still, the approvals show that crypto ETFs are growing fast — and altcoins are finally getting the same attention Bitcoin and Ethereum received last year.
