Overview
- NYSE Arca filed certifications with the SEC on November 21, clearing Grayscale’s Dogecoin and XRP funds to start trading today under tickers GDOG and GXRP.
- Both ETFs are spot vehicles that hold DOGE and XRP in custody, providing brokerage access without reliance on derivatives.
- The launches convert existing Grayscale trusts into exchange-traded funds, extending the firm’s single-asset lineup.
- Bloomberg analyst Eric Balchunas projected about $11 million in first-day volume for GDOG and suggested a Grayscale Chainlink ETF could follow next week.
- Competition is intensifying as Canary Capital’s XRP ETF drew over $250 million on day one and other issuers rolled out XRP funds this month, even as XRP is down roughly 18% since early November and several large crypto ETFs have recently seen outflows.