DOGE and XRP ETFs by Grayscale to Go Live on NYSE Arca November 24
TLDR
- Grayscale’s DOGE and XRP ETFs begin trading on NYSE Arca on November 24.
- DOGE derivatives volume rose 30% to $7.22B before the ETF launch.
- XRP derivatives volume surged 51%, reaching $12.74B ahead of trading.
- GDOG and GXRP ETFs were private placements before NYSE Arca approval.
Grayscale is set to launch two new cryptocurrency ETFs — one for Dogecoin (GDOG) and another for XRP (GXRP). Both will begin trading on the New York Stock Exchange Arca on Monday, November 24, offering U.S. investors regulated access to spot crypto exposure.
These ETFs were initially offered through private placements but will now be available on public markets. They will track the spot price of their respective assets, allowing investors to gain exposure without directly holding the cryptocurrencies.
Strong Trading Volumes Ahead of ETF Launch
Dogecoin and XRP have experienced a rise in derivatives trading volumes before the ETF launch. According to CoinGlass, Dogecoin derivatives volume increased by more than 30% to $7.22 billion. The price briefly dropped near $0.134 before rebounding into the $0.14 range.
XRP also saw a jump in activity. Its derivatives volume rose by 51%, reaching $12.74 billion. On TradingView, XRP’s price fell near $1.85 before recovering to around $1.96. This trading activity comes as investors position themselves ahead of the ETFs going live.
Bloomberg ETF analyst Eric Balchunas confirmed the launch via a post on X (formerly Twitter), noting that both GDOG and GXRP will be available on NYSE Arca starting from the first trading session on Monday.
Institutional Interest in Altcoin ETFs Grows
Grayscale’s DOGE and XRP ETFs join a growing list of altcoin investment products aimed at traditional investors. Bitwise launched its XRP ETF earlier this week, and Franklin Templeton is also preparing to introduce a Dogecoin ETF soon.
Grayscale’s expanding ETF suite reflects the increasing demand for altcoin exposure through regulated financial products. The firm now offers over 40 crypto-related investment vehicles. According to the company, its upcoming Chainlink ETF (GLNK) is also expected to launch the following week.
The XRP ETF also marks a milestone for the XRP Ledger, which is nearing 14 years of operation and has processed over 4 billion transactions since inception.
Regulatory Approval and Market Position
The approval by the NYSE follows a regulatory notice filed with the U.S. Securities and Exchange Commission. It marks the first time DOGE and XRP spot ETFs will launch together on a major U.S. exchange.
“These ETFs provide a regulated and transparent way for investors to gain exposure to popular altcoins,” Balchunas noted in his post.
Previously, DOGE and XRP were mostly available through direct purchases or private offerings. Their listing on NYSE Arca brings them into the broader market, making them more accessible to institutional and retail investors.
The synchronized launch on November 24 is expected to attract market attention due to the size of the DOGE and XRP communities, as well as their trading volume. The combined offering could influence how future altcoin-based ETFs are introduced in the United States.
The post DOGE and XRP ETFs by Grayscale to Go Live on NYSE Arca November 24 appeared first on CoinCentral.
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