The New York Stock Exchange (NYSE) has officially approved the listing of Grayscale’s exchange-traded funds (ETFs) related to Dogecoin and XRP, with both products set to commence trading on Monday.
NYSE Arca, a subsidiary of the NYSE, filed with the Securities and Exchange Commission (SEC) on Friday to certify the approval for the listing and registration of the Grayscale XRP Trust ETF (GXRP) and Grayscale Dogecoin Trust ETF (GDOG).
Bloomberg’s senior ETF analyst Eric Balchunas shared the NYSE’s approvals on X, stating that Grayscale’s ETF related to Chainlink (LINK) will follow suit shortly after.
“Grayscale Dogecoin ETF $GDOG approved for listing on NYSE, scheduled to begin trading Monday. Their XRP spot is also launching on Monday,” he remarked. “$GLNK coming soon as well, week after I think.”
The NYSE’s signing off signifies the last approval required for the launch of Grayscale’s spot Dogecoin (DOGE) ETF, reflecting a trend of numerous ETFs linked to speculative cryptocurrencies being introduced in recent weeks.
Grayscale’s Dogecoin ETF is a transition of the company’s existing trust into an ETF that mirrors the price of DOGE. Balchunas predicted the ETF’s trading volume on the first day could reach approximately $11 million.
XRP ETFs Swell in the Market
The Grayscale XRP (XRP) ETF is anticipated to debut alongside a competing offering from Franklin Templeton, while WisdomTree is also awaiting the launch of its XRP ETF.
The launch of Canary Capital’s ETF (XRPC) on November 13 marked the first spot XRP ETF in the U.S., and it had a strong introduction, amassing over $250 million in inflows on its first trading day.
In addition, Bitwise, 21Shares, and CoinShares have rolled out XRP ETFs this month, as the market sees an influx of competing products following the conclusion of the U.S. government shutdown and the SEC’s easing restrictions on crypto ETFs.
Although ETFs typically indicate bullish sentiment for the underlying asset, XRP has seen a decline of about 18% since early November, according to CoinGecko data.
