Bitwise Dogecoin ETF Launches Nov. 26 as XRP Spot ETF Starts Trading

TLDR

• Grayscale’s GDOG is the first U.S. spot Dogecoin ETF and starts trading today.
• Bitwise will launch its Dogecoin ETF on November 26 in the U.S.
• XRP and DOGE ETFs are part of the 100+ crypto ETFs forecasted by Bloomberg by 2026.
• Grayscale’s 35 bps fee for GDOG is waived for the first $1B or three months.

A wave of new crypto ETFs is hitting the U.S. markets this week, with Grayscale and Bitwise leading the charge. Grayscale’s GDOG, the first spot Dogecoin ETF in the U.S., begins trading today, while Bitwise will follow with its own DOGE ETF on November 26. Alongside the XRP ETF launches, these moves reflect growing demand for regulated altcoin exposure and mark a major shift in the evolving ETF landscape.

Grayscale and Bitwise Roll Out DOGE and XRP Spot ETFs

Grayscale has officially launched the first U.S. spot Dogecoin ETF under the ticker GDOG. This marks a milestone for Dogecoin’s presence in regulated financial markets. GDOG converts Grayscale’s existing Dogecoin Trust into a publicly traded ETF product.

The firm also announced the launch of its XRP ETF under the ticker GRXP. These new offerings received approval from the New York Stock Exchange and follow regulatory acceptance of spot crypto products earlier this year. The management fee for GDOG is set at 35 basis points, though it will be waived to zero for the first $1 billion in assets or the first three months, whichever comes first.

Bitwise, another major issuer, is preparing to launch its Dogecoin ETF on November 26. This move adds to Bitwise’s growing lineup of altcoin ETFs, which already includes offerings based on other digital assets. The DOGE ETF from Bitwise is expected to bring more investor interest into the altcoin ETF space.

ETF Launch Week Includes DOGE and XRP Products

This week is one of the busiest for the crypto ETF market since the approval of U.S. Bitcoin spot ETFs. Grayscale’s DOGE and XRP ETFs begin trading today, while Bitwise’s DOGE ETF is scheduled to debut on November 26.

According to Bloomberg Intelligence’s Eric Balchunas, five spot crypto ETFs will launch within six days. He also predicted that Grayscale’s GDOG would see around $12 million in first-day trading volume. Analysts expect strong volume overall as institutional and retail interest rise.

Crypto ETF Market to Expand Rapidly by Mid-2026

Bloomberg forecasts suggest over 100 new crypto ETFs could launch by May 2026. These products include spot ETFs, 1940 Act funds, and leveraged crypto offerings. The push by issuers comes as demand grows for regulated exposure to a wider range of digital assets.

Issuers like Bitwise, Grayscale, VanEck, Franklin Templeton, and Fidelity are among those accelerating their altcoin ETF portfolios. The latest ETF launches focus on assets like Dogecoin, XRP, Solana, HBAR, Litecoin, and Chainlink.

Balchunas emphasized that most upcoming ETFs will likely be spot-based, rather than futures-linked, allowing direct exposure to the underlying crypto assets. This strategy reflects investor interest in more straightforward digital asset access through traditional brokerage accounts.

Altcoin ETFs Gain Traction Beyond Bitcoin and Ethereum

The DOGE and XRP ETF launches represent a shift in focus beyond Bitcoin and Ethereum. More altcoin-based products are entering the market to offer diversified crypto exposure.

Experts expect continued momentum in the ETF space as liquidity and visibility improve across platforms. The conversion of Grayscale’s trusts into spot ETFs also allows existing investors more flexibility and exit options.

While Bitcoin and Ethereum ETFs still dominate in size, the interest in altcoin ETFs is growing rapidly. As more products launch, issuers are competing to secure early market share and investor trust.

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