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- Grayscale bags approval to launch spot ETFs for DOGE and XRP on the NYSE Arca exchange on November 24, 2025.
- XRP and DOGE are anticipated to record higher price outcomes once GDOG and GXRP begin trading.
Dogecoin (DOGE), the biggest memecoin by market cap, and Ripple-backed XRP have received institutional boost via exchange-traded funds (ETFs).
This marks another milestone in the integration of crypto into traditional finance, expanding access for DOGE and XRP through regulated investment vehicles.
Grayscale Launching DOGE and XRP ETFs
On Monday, November 24, Grayscale Investments will launch spot ETFs for both DOGE and XRP on the NYSE Arca exchange. Bloomberg ETF analyst Eric Balchunas shared the news in an X post, spotlighting an approval letter from NYSE Arca.
NYSE specified in the letter that it has approved the listing of the Grayscale Trust ETF via regulatory filings with the U.S. Securities and Exchange Commission (SEC).
Simply explained, these ETFs convert Grayscale’s existing private trusts into publicly tradable shares. Investors can now buy ETF shares on the stock market, which directly track the price of DOGE and XRP, without needing to own or store them directly.
The DOGE ETF will trade under the ticker GDOG, while the XRP ETF will use GXRP, each with a management fee of 0.35%.
This is the first time two major altcoin spot ETFs will launch simultaneously in the U.S. The approval is part of a broader altcoin ETF boom, with recent approvals for funds tracking Litecoin, Solana, and others.
As mentioned in our previous news brief, the Bitwise Staking Solana (BSOL) ETF showed a remarkable performance in its first week, drawing $417 million in inflows. Just days after BSOL went live, Bitwise launched its spot XRP ETF on the NYSE, with a 0.34% management fee.
Market analysts and even enthusiasts are expecting similar outcomes from GDOG and GXRP when they debut next week.
In our last update, we examined that Fidelity and Canary Capital have also expanded into the U.S. Solana ETF market. Both firms launched FSOL on NYSE Arca and SOLC on Nasdaq, which opened trading on Tuesday, November 18, 2025.
In his post, Balchunas suggested that a Chainlink (LINK) ETF (GLNK) could also launch next week.
Immediate Impact and Expectations
Markets are expecting heightened volatility and inflows for both DOGE and XRP once the Grayscale ETFs begin trading on Monday. Analysts like Eric Balchunas predict strong interest due to DOGE’s meme appeal and the use of XRP in payments.
Derivatives data shows traders are already positioning aggressively, with potential for price surges on launch day.
Specifically, the Dogecoin trading volume has increased sharply as the price hovered between lows near $0.134 and recoveries toward $0.1. This move signals heightened speculation ahead of the ETF debut.
In a similar move, XRP surged from around $1.85 to roughly $1.96. These patterns typically precede major ETF-driven liquidity events as leveraged traders attempt to anticipate the impact of the launch.
It is important to note that XRPR, debuted by REX and Osprey, was the first U.S. ETF providing exposure to XRP. Just 24 hours after launching, the XRP price surged 1.36% to $3.02, suggesting increased momentum.
Recently, analysts predicted that sustained institutional demand could accelerate XRP toward multi-year bullish targets.
