Dogecoin ETF GDOG Launches Today as Grayscale Expands Crypto Reach

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Grayscale’s DOGE ETF GDOG begins trading today after NYSE approval last week.
The fund may see up to $11 million in trading volume on its first day.
Grayscale’s DOGE trust converts into a spot ETF tracking the Dogecoin price.
GXRP, Grayscale’s XRP ETF, also starts trading alongside GDOG today.

Dogecoin enters a new trading chapter as Grayscale’s DOGE ETF officially launches today on the New York Stock Exchange. The new fund, listed under the ticker symbol GDOG, is expected to mark a turning point for meme-based cryptocurrencies in traditional finance. Trading projections suggest the ETF could see up to $11 million in volume on its first day, amid broader investor interest in crypto-based financial products.

Grayscale DOGE ETF Begins Trading on NYSE

Grayscale launched its Dogecoin ETF, trading under the ticker GDOG, on the New York Stock Exchange today. This follows the NYSE’s approval last week, clearing the way for the fund to go live.

According to Bloomberg analyst Eric Balchunas, the DOGE ETF could reach up to $11 million in trading volume on day one. The ETF offers a new way for investors to gain exposure to Dogecoin without managing private keys or crypto wallets.

Grayscale stated that the DOGE ETF is a conversion of its previous Dogecoin trust, now upgraded to a regulated exchange-traded product that mirrors the price of Dogecoin. The company said the move aligns with its ongoing effort to bring digital assets into traditional financial markets.

GDOG Launch Marks New Phase for Dogecoin in Finance

The GDOG fund provides investors with regulated access to Dogecoin through standard brokerage accounts. This reduces the complexity of crypto ownership for retail and institutional participants.

The fund is governed under the Securities Act of 1933. This makes GDOG the first Dogecoin ETF under this legal structure, according to Grayscale. Bloomberg analysts noted this adds to growing regulatory acceptance of crypto-based funds.

The ETF also allows Grayscale to use Dogecoin reserves to back the fund. Investors will not directly hold DOGE but will benefit from price tracking via the ETF structure.

XRP ETF Also Launches Alongside DOGE ETF

Grayscale also launched its GXRP ETF today, joining its DOGE ETF on the NYSE. This move comes one week after Bitwise debuted its XRP ETF, which saw over $22 million in volume within hours of launch.

James Seyffart of Bloomberg confirmed both listings and noted that interest in these funds is increasing rapidly. He shared that much of the volume in previous ETF launches occurred early in the trading session.

Other firms are also joining the ETF trend. Canary Capital launched its XRPC ETF earlier this month with more than $250 million in inflows on day one, showing demand for regulated crypto exposure remains high.

Additional Crypto Products May Follow GDOG

Grayscale is not stopping with Dogecoin and XRP. Analyst Balchunas revealed that a Chainlink-based ETF, trading as GLNK, could launch as early as next week.

Meanwhile, 21Shares is awaiting SEC approval for its own DOGE ETF, which it aims to list on Nasdaq. The company updated the product details last month but has not yet received clearance to proceed.

This wave of ETF launches signals a shift toward broader crypto adoption in traditional finance. The launch of GDOG marks a notable development for meme coins entering mainstream investment platforms.