Grayscale Launches Spot Altcoin ETFs for DOGE & XRP on NYSE
Grayscale Investments has secured NYSE Arca approval to launch its first spot altcoin ETFs for Dogecoin (GDOG) and XRP (GXRP), set to begin trading on November 24. The landmark altcoin ETF debut carries a 0.35% management fee and allows investors to gain token exposure via standard brokerage and retirement accounts without digital wallets or custodial arrangements. Regulatory letters dated November 21 paved the way for this expansion beyond Bitcoin and Ethereum products. The announcement ignited derivative volumes—Dogecoin volumes surged over 30% to $7.22 billion, while XRP volumes jumped 51% to $12.74 billion ahead of launch. At writing, DOGE trades near $0.1364 (-1.18% 24h) and XRP around $1.90. Grayscale’s move signals growing mainstream adoption of altcoin ETFs and sets the stage for further filings, including a Chainlink ETF (GLNK).
Bullish
The approval and launch of the spot Dogecoin and XRP altcoin ETFs are bullish for both tokens in the short term, as they lower entry barriers, drive institutional and retail inflows, and boost trading volumes. The surge in derivatives volume ahead of the listing underscores heightened market interest and liquidity, which can stabilize prices despite initial volatility. Over the long term, the ETFs’ presence on NYSE Arca provides regulated, cost-effective exposure, attracting conservative investors and pension funds that previously avoided direct crypto custody. This expanded accessibility is likely to underpin sustained demand and price appreciation for DOGE and XRP, while setting a precedent for further altcoin ETF approvals, such as a potential Chainlink ETF.