Grayscale Wins NYSE Approval for Dogecoin and XRP ETFs

Grayscale’s push into crypto exchange-traded funds is set to accelerate next week after the New York Stock Exchange approved the listing of its Dogecoin and XRP products, paving the way for both ETFs to begin trading on Monday.

NYSE Arca, the exchange’s electronic trading platform, submitted a filing to the U.S. Securities and Exchange Commission confirming it had authorized the listing and registration of the Grayscale XRP Trust ETF (GXRP) and the Grayscale Dogecoin Trust ETF (GDOG). The approval represents the final regulatory step before launch.

Bloomberg ETF analyst Eric Balchunas shared the approval documents on X, adding that Grayscale’s Chainlink ETF, the Grayscale Chainlink Trust (GLNK), is expected to follow as early as next week.

“The Grayscale Dogecoin ETF is approved for listing and set to begin trading Monday. XRP spot launches the same day,” Balchunas said, noting that the Chainlink product is next in line.

The upcoming debut of the Dogecoin ETF will convert Grayscale’s existing DOGE trust into a fully tradable fund tracking the meme-inspired cryptocurrency. Balchunas estimated first-day trading volumes could reach roughly $11 million.

Wave of XRP ETFs Enters Market

The XRP ETF landscape is becoming increasingly crowded. Grayscale’s GXRP is expected to launch at the same time as a competing product from Franklin Templeton, while WisdomTree’s version is still pending.

The momentum follows the debut of Canary Capital’s spot XRP ETF earlier this month (the first of its kind in the United States) which amassed more than $250 million in inflows on its opening day.

Several major issuers, including Bitwise, 21Shares and CoinShares, have since joined the rush, rolling out their own XRP-focused funds after the end of the U.S. government shutdown and a more flexible stance from the SEC on crypto-linked products.

Despite the flurry of institutional offerings, XRP’s price performance has softened. The token has fallen about 18% since the start of November, according to CoinGecko data, highlighting the mixed reaction to the ETF boom.