Dogecoin and XRP News
NYSE Arca has approved the listing of Grayscale's Dogecoin and XRP exchange-traded funds. Both products are scheduled to begin trading on Monday following the exchange's certification with the Securities and Exchange Commission.
The NYSE filed approval documents on Friday for the Grayscale XRP Trust ETF and the Grayscale Dogecoin Trust ETF. Bloomberg senior ETF analyst Eric Balchunas confirmed the approvals and noted that Grayscale's Chainlink fund will follow within the next week.
The exchange listing represents the final regulatory step needed for Grayscale's spot Dogecoin ETF to launch. The product converts Grayscale's existing trust into an ETF structure that tracks DOGE price movements in the market.
Balchunas projected that first-day trading volume for the Dogecoin ETF will reach approximately $11 million. The estimate reflects typical initial trading patterns for newly launched cryptocurrency exchange-traded products in the current market environment.
Grayscale's XRP ETF will compete directly with Franklin Templeton's product, launching simultaneously on Monday. WisdomTree also has an XRP ETF awaiting launch, adding to the growing roster of funds tracking the cryptocurrency.
Canary Capital's XRPC became the first spot XRP ETF in the United States when it launched on Nov. 13. The fund attracted over $250 million in inflows during its initial trading session, demonstrating strong investor demand.
Additional #XRP ETFs from Bitwise, 21Shares and CoinShares have also launched this month. The surge of competing products followed the end of the U.S. government shutdown and reduced SEC scrutiny of cryptocurrency ETF applications.
Despite #ETFs typically supporting underlying asset prices, XRP has fallen approximately 18% since early November. The decline continues even as multiple fund launches theoretically increase accessibility and demand for the token.
