Grayscale Investments will record spot ETFs for Dogecoin and XRP on the NYSE Arca on November 24, 2025, providing a brand new approach for on a regular basis buyers to purchase these cash by way of common brokerages.
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In accordance with alternate notices and regulatory filings, the funds will commerce underneath the tickers GDOG for Dogecoin and GXRP for XRP. The listings convert Grayscale’s current private-placement trusts into publicly traded merchandise.
Grayscale Strikes To Record Dogecoin And XRP
Stories have disclosed that each ETFs acquired approval to be listed, and the paperwork was filed with the US Securities and Trade Fee.
The transfer brings spot publicity to 2 smaller, however broadly adopted, cryptocurrencies right into a mainstream automobile. For a lot of buyers, meaning entry with out immediately managing wallets or non-public keys.
Grayscale Dogecoin ETF $GDOG accepted for itemizing on NYSE, scheduled to start buying and selling Monday. Their XRP spot can be launching on Monday. $GLNK coming quickly as properly, week after I feel pic.twitter.com/c6nKUeDrtI
— Eric Balchunas (@EricBalchunas) November 21, 2025
Market Exercise Up Forward Of Launch
Buying and selling exercise in associated derivatives climbed within the lead as much as the announcement. Dogecoin derivatives quantity elevated by greater than 30% to roughly $7.22 billion, based mostly on alternate knowledge.
XRP derivatives surged as properly, leaping about 51% to round $12.74 billion. Based mostly on studies, these spikes mirror merchants positioning for potential value swings across the ETF debut.
Spot ETFs don’t promise larger costs, however they do change who can purchase the belongings. Brokers, retirement plans, and funds that keep away from direct crypto custody could now step in.
That would have an effect on liquidity in each the tokens and their markets. On the similar time, the general crypto market has seen strain; studies say the launches come throughout a roughly six-week downturn.
DOGE market cap at present at $21.4 billion. Chart: TradingView
Questions Stay Over Demand And Flows
Product charges, custody particulars, and the way the trusts convert into ETF shares will form investor urge for food. Previous launches of crypto ETFs confirmed brisk early flows for some merchandise, whereas others noticed muted curiosity. What issues for costs will not be solely listings, however inflows and outflows as soon as buying and selling begins.
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Traders and analysts are prone to watch the primary days of buying and selling for clues. Excessive quantity and tight spreads would recommend robust demand. Low turnover or extensive spreads may sign tepid curiosity.
Based mostly on studies, market members will even monitor whether or not the ETFs draw the identical form of speculative buying and selling that has pushed derivatives quantity in latest days.
The itemizing of each GDOG and GXRP on the identical date marks a notable step for mainstream crypto merchandise. In accordance with alternate filings, the funds are structured as spot ETFs that maintain the underlying tokens by way of custodians. Whereas that doesn’t take away value threat, it does make shopping for these belongings less complicated for a broad group of buyers.
Featured picture from Gemini, chart from TradingView