Grayscale launches ETFs of $XRP and $DOGE in the USA
Grayscale, one of the world's leading cryptocurrency asset managers, announced this week the launch of two new funds. This includes an XRP ETF, the 4th largest cryptocurrency in the market, but also a Dogecoin (DOGE) ETF, a memecoin.
Although the ETFs of $BTC and Ethereum are under pressure, with outflows of $3.7 billion and $1.64 billion, respectively, in November, other cryptocurrencies are being well-received on Wall Street.
"Introducing the Grayscale XRP Trust ETF (ticker: GXRP), now traded with 0% fees by Grayscale, the largest crypto-focused asset manager in the world," the manager wrote, noting that the promotion will be valid for the first three months of trading or until the fund reaches the mark of $1 billion, whichever comes first.
In November, the four American XRP ETFs show inflows of $586.7 million, going against the billion-dollar outflows of Bitcoin and Ethereum ETFs.
In addition to this, Grayscale also innovated by having the first memecoin ETF approved in the USA. Trading of GDOG, the private Dogecoin fund that was converted into an ETF, debuted this Tuesday (25).
