Grayscale’s Dogecoin and XRP ETFs tee up to launch on Monday following NYSE approvals
The New York Stock Exchange has approved the listings for Grayscale’s Dogecoin and XRP exchange-traded funds, clearing the way for both products to launch on Monday.
On Friday, the NYSE Arca, a subsidiary of the NYSE Group, certified the listing and registration for the Grayscale XRP Trust ETF Shares and the Grayscale Dogecoin Trust ETF Shares.
"The NYSE Arca certifies its approval for listing and registration of the Grayscale XRP Trust ETF Shares, a series of Grayscale XRP Trust ETF, under the Exchange Act of 1934," the exchange said in one of the filings. Both would be conversions from private placement products to ETFs.
The two ETFs add to Grayscale's growing roster of funds, including ETFs tracking bitcoin, Ethereum, Dogecoin, and Solana. Both XRP and Dogecoin have significant followings — Dogecoin is the first and largest memecoin, and XRP is the fourth-largest cryptocurrency by market capitalization.
Grayscale's latest trust conversions come amid a wave of crypto ETF listings over the past year, including more recent ETFs tracking altcoins. Funds tracking Litecoin, HBAR, XRP, and SOL were approved using guidance the Securities and Exchange Commission released shortly into the U.S. government shutdown that clarified procedures for firms seeking to go public without needing the agency's explicit green light. Those funds also had to meet specific listing standards, which were approved by the SEC in September.
Grayscale's Dogecoin ETF would be the second to launch in the U.S., after REX Shares and Osprey Funds debuted their version in September. The REX-Osprey DOGE product took a different approach to listing under the Investment Company Act of 1940, a federal law that regulates actively managed investment funds that pool capital from investors to pursue a common investment strategy.
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