A new wave of altcoin products is about to hit Wall Street, and Grayscale is leading the charge. The asset manager is preparing to introduce two exchange-traded funds tied to XRP and Dogecoin, with trading beginning tomorrow on the New York Stock Exchange.
Key Takeaways:
Grayscale will list XRP and Dogecoin ETFs on the NYSE tomorrow after securing SEC approval.
Analysts expect strong demand, with Dogecoin projected to generate heavy first-day trading volume.
The launch intensifies competition in the fast-growing altcoin ETF market following record interest in recent XRP funds.
For investors who have asked for crypto exposure without dealing with wallets or exchanges, the opportunity has now arrived.
The launch comes after a double regulatory approval day on November 21, when the U.S. Securities and Exchange Commission cleared the two products separately—signaling that regulators are no longer focused solely on Bitcoin and Ethereum when reviewing digital-asset funds. Approval for multiple altcoins within hours suggests that Washington’s stance toward the broader crypto market may be entering a new phase.
The attention isn’t only regulatory. Analysts are already forecasting heavy participation the moment trading opens. Bloomberg’s Eric Balchunas expects the Dogecoin ETF to pull in around $11 million worth of first-day volume, which would place it among the most active ETF debuts of the year if projections hold. Balchunas also hinted that Grayscale’s Chainlink Trust could be next in line, predicting a decision within a week.
Signs of demand have already appeared elsewhere. Just last week, Canary Capital’s XRP ETF stunned the NYSE with a record debut, posting $59 million in trading on day one before closing the session with roughly $250 million in assets under management. In other words, there is money waiting for altcoin ETFs—and a lot of it.
Grayscale’s Dogecoin fund enters a field that has already been tested. Back in September, REX Shares and Osprey Funds rolled out their own DOGE ETFs, using the Investment Company Act of 1940 to bypass the need for direct SEC approval. The early arrival of competing products only intensifies pressure for every issuer—investors now have options.
For Grayscale, tomorrow’s listings mark a continuation of a long-term strategy. The firm already operates ETFs tied to Bitcoin, Ethereum, and Solana, and the addition of XRP and DOGE rounds out a more aggressive push into the altcoin segment. If market interest mirrors last week’s XRP ETF explosion, the competitive landscape for crypto investment products could shift rapidly.
One thing is clear: November has become the busiest month of the year for altcoin ETF approvals, and the race for capital is heating up by the day.
