Grayscale Secures Green Light for Spot DOGE and XRP ETFs: A Game-Changer for Crypto Markets in 2025
- What Exactly Did NYSE Arca Approve?
- Why Does This Approval Matter for Crypto?
- How Big Could These ETFs Become?
- Who Else Is Jumping Into XRP ETFs?
- Why Aren't DOGE and XRP Prices Reacting Positively?
- What Does This Mean for Crypto's Future?
- Frequently Asked Questions
In a landmark move for cryptocurrency adoption, Grayscale Investments has received regulatory approval to launch spot ETFs for Dogecoin (DOGE) and XRP, set to begin trading this week. This development signals a major shift in institutional acceptance of meme coins and altcoins, despite the ongoing crypto market downturn. The New York Stock Exchange (NYSE) Arca's approval marks another step in bridging crypto with traditional finance, following the successful launch of Bitcoin ETFs earlier this year.
What Exactly Did NYSE Arca Approve?
The NYSE Arca has given the green light to two groundbreaking products: the Grayscale Dogecoin Trust (GDOG) and Grayscale XRP Trust (GXRP). According to filings with the SEC under the Securities Exchange Act of 1934, these spot ETFs are scheduled to start trading on Monday, November 25, 2025. Bloomberg ETF analyst Eric Balchunas notes that Grayscale has a chainlink ETF in the pipeline as well, suggesting this is just the beginning of a new wave of crypto investment products.
Why Does This Approval Matter for Crypto?
This regulatory milestone represents more than just new trading options - it's a symbolic victory for the entire cryptocurrency industry. Financial commentator Nate Geraci calls it "one of the clearest signs of shifting regulatory attitudes we've seen all year." The approval comes despite recent price struggles for both assets, with XRP down 18% and DOGE dropping 26% over the past month according to CoinMarketCap data. It shows regulators are looking beyond short-term price action when evaluating these products.
How Big Could These ETFs Become?
Initial estimates suggest modest but meaningful launches. Balchunas projects the DOGE ETF could debut with around $11 million in assets. However, the recent performance of other crypto ETFs suggests these could grow rapidly. Just last week, Canary Capital's XRP ETF (XRPC) attracted $250 million in inflows on its first day - the largest ETF launch of 2025 among nearly 900 new funds. The BTCC exchange has already announced it will list both new Grayscale products immediately upon launch.
Who Else Is Jumping Into XRP ETFs?
Grayscale isn't the only firm capitalizing on the XRP opportunity. NYSE Arca has also approved Franklin Templeton's XRP ETF (to trade as XRPZ), pending final SEC clearance. Meanwhile, Bitwise, 21Shares, and CoinShares have all launched their own XRP products recently. This sudden proliferation suggests institutions see strong demand for regulated exposure to Ripple's digital asset, despite its legal battles with the SEC in recent years.
Why Aren't DOGE and XRP Prices Reacting Positively?
Interestingly, neither token has seen significant price appreciation despite the ETF news. Market analysts at BTCC suggest this reflects broader crypto market pressures rather than specific concerns about these assets. The entire sector has been in a downtrend since October, with total market capitalization dropping nearly 20% according to TradingView data. Some traders appear to be "selling the news" after initial excitement about the ETF approvals.
What Does This Mean for Crypto's Future?
These approvals continue the trend of traditional financial institutions embracing digital assets. From my perspective covering crypto markets since 2018, each new ETF approval makes it harder for regulators to maintain hostile positions toward the asset class. The political winds have clearly shifted, with the current administration taking a more crypto-friendly stance than we've seen in previous years.
This article does not constitute investment advice. Crypto markets remain highly volatile, and investors should conduct their own research before making any decisions.
Frequently Asked Questions
When will Grayscale's DOGE and XRP ETFs start trading?
The Grayscale dogecoin Trust (GDOG) and Grayscale XRP Trust (GXRP) are scheduled to begin trading on Monday, November 25, 2025 on NYSE Arca.
How many XRP ETFs are now available?
There are currently four XRP ETFs either trading or approved: Grayscale's GXRP, Canary Capital's XRPC, Franklin Templeton's XRPZ (pending), and products from Bitwise, 21Shares, and CoinShares.
Why are DOGE and XRP prices down despite ETF approvals?
Market analysts attribute this to broader crypto market weakness, with total capitalization down nearly 20% since October according to TradingView data. ETF news often creates "sell the news" reactions after initial speculation.
What's the estimated size of the DOGE ETF at launch?
Bloomberg analyst Eric Balchunas estimates the Grayscale Dogecoin Trust could launch with approximately $11 million in assets under management.
