Wave of XRP ETFs Set to Launch as Dogecoin Product Joins Altcoin Rush

A wave of XRP exchange-traded funds is set to hit the market this week, with Franklin Templeton and Grayscale securing final approvals from NYSE Arca to list spot products, while Grayscale's Dogecoin ETF also received clearance for Monday trading.

NYSE Arca confirmed approval for Franklin Templeton's spot XRP ETF and Grayscale's XRP Trust ETF in letters filed with the Securities and Exchange Commission (SEC) on November 21. Franklin Templeton's product, trading under ticker XRPZ with a 0.19% annual fee, is expected to launch November 24. The firm will waive fees on the first $5 billion in assets until May 31, 2026.

Grayscale's XRP ETF (GXRP) is scheduled to begin trading November 25 as the firm converts its existing trust into an ETF structure. The company is simultaneously launching its Dogecoin Trust ETF (GDOG) on Monday, with Bloomberg senior ETF analyst Eric Balchunas projecting first-day volume around $11 million for the DOGE product.

November has emerged as the busiest month for altcoin ETF approvals, with the flood of products intensifying competition among asset managers for institutional capital flows into alternative digital assets.

The approvals expand an already crowded XRP ETF market that has developed rapidly in recent weeks. Canary Capital's XRPC began trading November 13, posting $250 million in assets under management on its debut day with $59 million in first-day volume. Bitwise launched its XRP ETF on the NYSE November 20, attracting $100 million in assets within hours. The firm already manages $230 million through its Bitwise Physical XRP ETP.

Additional XRP products include 21Shares and CoinShares ETFs launched this month, along with Amplify's XRPM, a 3% monthly premium income ETF. WisdomTree's XRP ETF is also awaiting launch, creating multiple entry points for different investor types.

The rapid succession of approvals signals a shift in regulatory posture. The SEC cleared both Grayscale products on November 21, approving multiple altcoin funds within hours – a departure from the agency's previous focus primarily on Bitcoin and Ethereum investment vehicles. The momentum follows the end of the U.S. government shutdown and loosening SEC scrutiny of crypto ETFs.

For XRP, the proliferation of regulated products provides institutional investors with direct exposure without holding tokens directly. The ETFs remove technical obstacles related to custody and securing digital assets while operating within existing regulatory frameworks.

Grayscale's Dogecoin ETF converts the firm's existing trust into an ETF tracking DOGE's price, entering competition with REX Shares and Osprey Funds, which launched DOGE ETFs in September using the Investment Company Act of 1940 to bypass direct SEC approval.

Balchunas predicted Grayscale's Chainlink ETF could receive approval within a week, suggesting continued expansion of altcoin investment products. Grayscale already operates ETFs for Bitcoin, Ethereum, and Solana.

Despite the launch of multiple regulated products typically viewed as bullish for underlying assets, XRP has declined approximately 18% since early November, according to CoinGecko data, as broader cryptocurrency markets face selling pressure. The token tested support around $1.80 amid a crypto-wide correction but currently sits at $2.08.