Key Highlights
Grayscale’s Dogecoin (GDOG) and XRP (GXRP) ETFs officially launch on the NYSE today after final approval last week.
Analysts expect strong early trading, with GDOG projected to hit around $11 million in first-day volume.
The launches follow a surge of new XRP ETFs, including Canary Capital’s $250M debut, signaling rising institutional interest.
Grayscale is set for a major day in the US crypto market as its Dogecoin (GDOG) and XRP (GXRP) exchange-traded funds officially begin trading on the New York Stock Exchange (NYSE) today.
The launch comes after the NYSE granted its final approval last Friday, clearing the asset manager to list both spot ETFs following months of filings and regulatory back-and-forth.
Grayscale Dogecoin Trust ETF (Ticker: $GDOG) offers investors direct exposure to $DOGE. $GDOG starts trading on @NYSE Arca tomorrow. pic.twitter.com/AJUFAnY4K1— Grayscale (@Grayscale) November 24, 2025
NYSE greenlights Dogecoin and XRP ETFs
The NYSE Arca division submitted the formal certification to the US Securities and Exchange Commission (SEC) late last week, confirming its approval to list the Grayscale Dogecoin Trust ETF and Grayscale XRP Trust ETF.
Bloomberg ETF analyst Eric Balchunas posted the signed documents and noted that both funds were scheduled to debut today. He added that Grayscale’s Chainlink-based ETF (GLNK) is also expected to go live next week, continuing a busy month for crypto ETF activity.
Balchunas projected that GDOG could generate around $11 million in first-day trading volume, based on the performance of other newly launched crypto ETFs.
Grayscale is converting its long-running DOGE trust into an ETF, giving investors direct and regulated exposure to the meme coin without needing to handle wallets or private keys.
XRP ETF competition rises nationwide
XRP is also seeing a wave of ETF launches. Alongside Grayscale’s GXRP, Franklin Templeton is preparing its own spot XRP ETF, while WisdomTree is awaiting its listing approval.
This follows the rapid rise of XRP products after the US government ended its temporary shutdown and the SEC eased its review pace.
Earlier this month, Canary Capital’s XRPC ETF became the first spot XRP ETF in the US. It registered huge inflows of $250 million in its first day, which is an indication of high institutional interest.
Bitwise, 21Shares and CoinShares also launched their XRP ETFs this month, which established one of the most competitive ETF segments in the crypto market.
Despite the buzz, XRP’s price has fallen nearly 18% in November, showing that ETF launches do not always guarantee short-term gains for the underlying asset.
XRP Price Chart – Source: CoinMarketCap
Dogecoin ETF interest expands further
Dogecoin is also attracting new attention beyond Grayscale. 21Shares, another major crypto ETF issuer, recently updated key details about its own DOGE ETF, which is planned for a listing on Nasdaq.
The company is still waiting for a decision from the SEC, but today’s launch of GDOG could set the stage for more meme-coin-based investment products.
Why these ETF launches matter now
The approval of Dogecoin and XRP ETFs marks another step in the mainstreaming of crypto assets in the US financial system. These products enable the retail and institutional investors to have exposure to these products using the conventional brokerage accounts without the technical hassle of dealing with tokens directly.
As DOGE, XRP and soon Chainlink products become available, November is turning out to be one of the busiest months of US crypto ETFs, and an indication that investor interest in regulated digital-asset products is still rising.
Also Read: FalconX Acquires 21Shares, Launches Leveraged Dogecoin ETF
Powered by WPeMatico