The crypto investment firm Grayscale’s XRP and Dogecoin exchange-traded funds, or ETFs, will begin trading on the New York Stock Exchange tomorrow.
The US Securities and Exchange Commission issued its approval for the XRP ETF fund in a November 21 release, with a separate note published the same day confirming the DODGE ETF approval.
On X, Bloomberg’s senior ETF analyst Eric Balchunas said that the Dogecoin ETF’s transaction volumes could hit the $11 million mark on November 24. “[SEC approval for the Grayscale Chainlink Trust] is coming soon as well, [the] week after, I think,” Balchunas wrote.
More approvals, launches set to follow
Both the NYSE and the SEC have grown increasingly bullish in recent weeks, with more altcoin ETFs appearing on the exchange in November.
Last week, the crypto-focused investment firm Canary Capital claimed its own XRP debut on the same exchange was “record-setting.”
In a press release, Canary wrote that its XRP ETF had “debuted with the highest first-day trading volume of any ETF launched in 2025 as of November 17, reaching $59 million in volume.”
The company added that it had ended its first trading session “with approximately $250 million in assets under management.”
Market worries
Grayscale’s Dogecoin ETF will not be the first Dogecoin ETF to launch in the US.
In September, the ETF provider REX Shares and the crypto investment firm Osprey Funds won approval for their own DOGE ETF under the terms of the 1940 Investment Company Act.
Using the act allowed Rex-Osprey to take its product public without waiting for explicit approval from the SEC.
Grayscale was founded in 2013 and has since launched various crypto trusts and ETF products. It has previously unveiled Bitcoin, Ethereum, and Solana ETF offerings.
Traders will be hoping that recent drops in the price of Bitcoin and other tokens will not dampen their enthusiasm about the new financial products.
This month has proven tumultuous for crypto ETFs. On November 20 alone, investors removed $548 million from Bitcoin ETFs.
Investors in the BlackRock iShares Bitcoin Trust pulled $355 million from the fund as the wider market slumped to a nine-month low.
