NYSE Approves Grayscale Dogecoin and XRP ETFs for November 24 Launch

TLDR

Table of Contents

NYSE approved Grayscale’s Dogecoin and XRP ETFs for launch on November 24.
Dogecoin derivative volume rose over 30% to reach $7.22 billion.
XRP derivative trading volume surged 51% to hit $12.74 billion.
Grayscale may launch a Chainlink ETF ($GLNK) the following week.

Grayscale has secured approval from the New York Stock Exchange to launch spot ETFs for Dogecoin and XRP, both of which are set to begin trading on November 24. This dual listing marks a milestone in the U.S. crypto investment space, as it’s the first time two altcoin ETFs will launch simultaneously. The move has already driven a surge in derivatives trading activity, reflecting growing investor interest ahead of the official market debut.

Grayscale’s Dogecoin and XRP ETFs Cleared for NYSE Debut

Grayscale has received approval from the New York Stock Exchange to launch new spot ETFs for Dogecoin and XRP. Both ETFs are scheduled to begin trading on November 24, according to a regulatory letter shared with the U.S. Securities and Exchange Commission.

Bloomberg ETF analyst Eric Balchunas confirmed the development in a post on X. He stated, “Grayscale Dogecoin ETF $GDOG approved for listing on NYSE, scheduled to begin trading Monday. Their XRP spot is also launching on Monday.” His update also mentioned the upcoming Chainlink ETF ($GLNK), expected to launch a week later.

This approval allows Grayscale to offer shares of these ETFs through its regulated trust platform. It enables traditional investors to gain exposure to the performance of Dogecoin and XRP without owning the tokens directly.

Market Reactions Ahead of ETF Launch

The approval news has stirred market activity, especially in derivatives linked to both Dogecoin and XRP. Data from CoinGlass shows a sharp rise in trading volumes in anticipation of the ETFs’ launch.

Dogecoin’s derivatives volume jumped over 30% to reach $7.22 billion. On TradingView, the price chart for Dogecoin shows fluctuations, with the token dropping to around $0.134 before rebounding to $0.14 during the trading session on November 21.

XRP’s derivatives volume climbed by 51% to reach $12.74 billion, according to CoinGlass. TradingView charts indicate the token’s price fell to nearly $1.85 during early session hours but recovered and moved toward the $1.96 level.

The simultaneous trading of both ETFs is expected to attract large market attention due to the active communities and investor interest in both altcoins.

Synchronized ETF Launch Sets a First in the U.S. Market

This is the first time two major altcoin ETFs will be introduced at once on a major U.S. exchange. The launch aligns with Grayscale’s broader push into regulated crypto investment products. The firm recently filed for an IPO in the United States, signaling further expansion in the traditional finance space.

Other ETF issuers have also been making moves. Canary, for example, recently removed the SEC delay clause before launching its XRP ETF. This broader activity indicates growing interest in altcoin-focused investment products in regulated markets.

According to industry observers, the listing of both DOGE and XRP ETFs on the same day could increase early demand and liquidity. Investors and institutions will closely watch the launch session on November 24.

What’s Next for Grayscale

Following the Dogecoin and XRP ETFs, Grayscale appears to be preparing additional offerings. The Chainlink ETF, known as $GLNK, is expected to follow shortly, potentially launching the week after.

Grayscale continues to expand its presence in the ETF sector, aiming to provide more access points for conventional investors to enter the cryptocurrency market. These ETF launches are seen as part of the company’s longer-term strategy to bridge traditional finance and digital assets.

With the approval from the NYSE now confirmed, both DOGE and XRP ETFs will officially begin trading on November 24 during the first session of the U.S. markets.