Grayscale’s DOGE and XRP Spot ETFs Cleared for Today’s Launch

The crypto market has been slipping for weeks, yet progress continues on the regulatory front. Even with major tokens losing ground, a new round of exchange-traded funds (ETFs) tied to Dogecoin and XRP is set to enter the U.S. market today (Monday). The latest approvals from the New York Stock Exchange (NYSE) signal a growing push to bring more crypto products into traditional finance.

NYSE Arca Clears Grayscale’s Dogecoin and XRP ETFs

On Friday, NYSE Arca confirmed its approval to list and register the Grayscale Dogecoin Trust ETF (GDOG) and the Grayscale XRP Trust ETF (GXRP) under the Exchange Act of 1934. Bloomberg senior ETF analyst Eric Balchunas said the two funds are set to begin trading on the NYSE on Monday and noted that a Grayscale ETF tied to Chainlink is expected soon.

This approval marks the final step Grayscale needed before bringing its spot Dogecoin and XRP ETFs to the market, adding to the expanding wave of crypto-focused funds entering the market lately. Financial commentator Nate Geraci viewed the launches as a symbolic moment for the sector and pointed to them as one of the clearest signs of how much crypto oversight has shifted over the past year. He also said GDOG could easily rank among his top ticker symbols.

Balchunas also provided an early estimate for the Dogecoin ETF’s debut, suggesting it could open with roughly $11 million in assets.

Expanding XRP ETF Options Across the Market

In addition to Grayscale’s approvals, NYSE Arca has cleared Franklin Templeton’s XRP ETF and formally notified the SEC. The fund is set to trade under the ticker XRPZ.

Meanwhile, on November 13, Canary Capital launched its XRP ETF, XRPC, becoming the first spot XRP fund to debut in the United States. The product drew immediate attention, attracting over $250 million in inflows on its first day, with $58 million in trading volume—the largest debut of any ETF this year out of around 900 launches.

Following this, Bitwise, 21Shares, and CoinShares also launched their own XRP ETFs, receiving approval after the US government reopened. The loosening of regulatory hurdles seems to be fueling this surge of new crypto exchange-traded fund launches, in line with President Trump’s crypto-friendly approach.

Market Reaction and Token Performance

Despite the wave of XRP-focused funds reaching the market, the token itself has not seen a boost. XRP has struggled since November 11 and has fallen more than 18% over the past month. The trend mirrors the broader sector, which has been under pressure throughout the same period.

Dogecoin is also facing similar struggles, with the memecoin king dropping more than 26% in value over the past month. Although the new ETFs offer a regulated way for traders to gain exposure, it is difficult to predict whether they will immediately impact the tokens’ prices amid current market conditions.