Emre Yumlu 
The New York Stock Exchange (NYSE) has officially approved the listing of Grayscale’s spot exchange-traded funds tied to Dogecoin (DOGE) and XRP. With this decision, both ETFs are set to begin trading today, marking another significant addition to the wave of speculative altcoin ETFs entering the market in recent weeks.
Final Approval Secured: DOGE and XRP ETFs Ready for Trading
Altcoin ETF applications continue at full speed. NYSE Arca filed its certification with the U.S. Securities and Exchange Commission (SEC) on Friday, confirming its approval for the listing and registration of the Grayscale XRP Trust ETF (GXRP) and the Grayscale Dogecoin Trust ETF (GDOG). This filing served as the final regulatory step, clearing the way for both products to go live.
Bloomberg senior ETF analyst Eric Balchunas shared the approval documents on X over the weekend and noted that Grayscale’s Chainlink ETF is expected to launch next week. Balchunas also estimated that the Dogecoin ETF could reach around $11 million in trading volume on its first day.
Grayscale’s DOGE ETF represents the conversion of the company’s existing Dogecoin Trust into a fully regulated spot ETF designed to track the price performance of DOGE as closely as possible.
Growing Altcoin ETF Competition Among XRP ETFs
The race to launch XRP-linked ETFs continues to accelerate. Grayscale’s XRP ETF is set to debut today alongside a competing product from Franklin Templeton, while WisdomTree is also awaiting its own listing approval. The rapid expansion of XRP ETF offerings highlights increasing institutional interest in the asset.
The first spot XRP ETF in the United States was introduced on November 13 by Canary Capital under the ticker XRPC. The fund made an impressive market entry, attracting more than $250 million in inflows on its opening day.
In addition, Bitwise, 21Shares, and CoinShares have each rolled out their own XRP ETFs this month. The surge in new products comes amid the end of the U.S. government shutdown and a period in which the SEC has taken a more flexible approach to the approval of crypto-based ETFs.
XRP Price Under Pressure Despite ETF Momentum
Although altcoin spot ETFs often serve as a bullish catalyst for their underlying asset, XRP has not yet reflected this trend. According to CoinGecko data, XRP has declined by roughly 18% since the beginning of November.
Even so, analysts argue that increased ETF variety could strengthen institutional demand and improve market liquidity for XRP in the medium term. As more ETFs enter the market, the expanded access may play a crucial role in shaping future price dynamics.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.