Grayscale exchange-traded funds tracking Ripple’s XRP and Dogecoin (DOGE) are set to begin trading on Monday, adding to a growing list of U.S.-listed altcoin-focused products available to investors.
Grayscale’s XRP, DOGE ETFs To Start Trading Monday
The NYSE Arca on Friday certified the listing and registration for the Grayscale XRP Trust ETF (GXRP) and the Grayscale Dogecoin Trust ETF (GDOG)
“The NYSE Arca certifies its approval for listing and registration of the Grayscale XRP Trust ETF Shares, a series of Grayscale XRP Trust ETF, under the Exchange Act of 1934,” the exchange stated in one of the filings. Both would be conversions from existing private placements into ETFs.
The two ETFs are each structured as spot exchange-traded products that hold their respective underlying assets, offering U.S. investors streamlined access to DOGE and XRP for the first time via regulated public markets.
The debut of GXRP comes as the XRP Ledger (XRPL), a blockchain leveraged for instantaneous cross-border settlements, nears its fourteenth anniversary. XRPL has processed more than 4 billion transactions since its inception. Bitwise’s XRP ETF debuted on Wall Street earlier this week.
Meanwhile, Dogecoin, which was created in jest, remains the first and largest meme coin on the market. Grayscale’s GDOG will be the second to go live in the United States, after the Rex-Osprey DOGE ETF (DOJE), which hit the market in September.
Besides the latest trust conversions, Grayscale is prepping to go public on the Nasdaq. The digital asset management giant has filed for an IPO to list its Class A shares on the NYSE as several crypto companies seek to tap public markets under the pro-crypto Donald Trump administration.
New Wave Of Crypto ETFs
Grayscale’s launches come amid a wave of crypto ETF listings over the last year, including more recent ETFs tracking altcoins like Litecoin (LTC), Hedera (HBAR), XRP, and Solana (SOL), reflecting growing institutional demand in crypto assets beyond Bitcoin.
The promising ETF launches have come even as crypto markets and investor confidence have sagged. Bitcoin recently fell below $85,000, its lowest level since late April, according to data from CoinGecko. The apex crypto is off over 12% over the last week.
XRP is down over 15% for the same period, while DOGE has dropped about 14.7%.
Source: https://zycrypto.com/grayscale-poised-to-debut-xrp-and-dogecoin-etfs-on-monday-following-nyse-approvals/
