Grayscale’s Dogecoin and XRP ETFs Set for NYSE Debut on November 24

Grayscale will introduce new exchange-traded fund merchandise tied to Dogecoin and XRP on Nov. 24 after securing approval to record each autos on the New York Stock Exchange.

The Grayscale Dogecoin Trust ETF (GDOG) and the Grayscale XRP Trust ETF (GXRP) will debut as spot ETPs holding their respective underlying tokens.

Grayscale Expands ETF Lineup With Dogecoin and XRP

The agency is changing its present personal trusts into absolutely listed ETFs, a transfer that represents a significant liquidity occasion for present traders.

GXRP will enter a market that already consists of spot merchandise from Canary Capital and Bitwise.

Those funds have drawn about $422 million in mixed inflows throughout their first two weeks of buying and selling, signaling early institutional curiosity in XRP-linked products.

On the opposite hand, GDOG will be one of the first Dogecoin ETF obtainable to US traders.

Dogecoin, once a meme token, has grown into the ninth-largest cryptocurrency by market capitalization. Its deep retail following has made it one of the often traded and mentioned digital belongings, a pattern Grayscale expects will assist ETF demand.

Considering this, Bloomberg Intelligence analyst Eric Balchunas mentioned the product may appeal to as a lot as $11 million in quantity on its first buying and selling day.

GDOG and GXRP’s launch broadens the combo of crypto ETFs obtainable within the US market, extending the business’s enlargement past Bitcoin and Ethereum merchandise that dominated the preliminary wave of approvals.

Their arrival additionally displays shifting regulatory circumstances in Washington.

Both approvals are a part of a broader acceleration in digital asset oversight underneath Securities and Exchange Commission (SEC) Chairman Paul Atkins.

Since taking workplace, Atkins has moved the company away from a “regulation by enforcement” strategy and towards a disclosure-focused framework.

Through his “Project Crypto” initiative, he has signaled that the SEC is open to reviewing compliant digital asset merchandise, clearing the trail for issuers searching for to record new ETFs.

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