Dogecoin ETF is set to make waves as Grayscale Investments gears up to list spot ETFs for Dogecoin and XRP on the NYSE Arca, scheduled for November 24, 2025. This exciting development offers a fresh avenue for everyday investors to access these popular cryptocurrencies via routine brokerages.
In an official announcement, Grayscale confirmed that the funds will trade under the tickers GDOG for Dogecoin and GXRP for XRP. This strategic move transforms Grayscale’s existing private-placement trusts into publicly traded products, making it a significant milestone for crypto enthusiasts.
Grayscale’s Strategic Move with Dogecoin ETF
Recent reports indicate that both ETFs received the green light for listing, following the submission of necessary paperwork to the US Securities and Exchange Commission. This initiative introduces spot exposure for two widely followed cryptocurrencies into a mainstream investment vehicle. For many investors, this means gaining access without the complexities of managing wallets or private keys directly.
Eric Balchunas, a noted analyst, took to social media to share the news: “Grayscale Dogecoin ETF $GDOG approved for listing on NYSE, scheduled to begin trading Monday. Their XRP spot is also launching on Monday. $GLNK coming soon as well.”
Market Activity Surges Ahead of Dogecoin ETF Launch
Leading up to this announcement, trading activity in related derivatives soared. Dogecoin derivatives volume experienced a dramatic surge, climbing over 30% to reach approximately $7.22 billion, as reported by exchange data.
Similarly, XRP derivatives saw a significant jump of about 51%, escalating to around $12.74 billion. These increases reflect traders positioning themselves for potential market fluctuations surrounding the ETF debut.
While spot ETFs do not inherently guarantee higher prices, they do alter the landscape of potential buyers. Brokers, retirement plans, and funds that have traditionally avoided direct crypto custody might now engage, potentially impacting liquidity for both tokens and their markets. This comes at a time when the overall crypto market faces pressure, with reports indicating the launches coincide with a roughly six-week downturn.
Uncertainties in Demand and Market Flows
The success of these ETFs will hinge on product fees, custody specifics, and the mechanics of converting trusts into ETF shares, all of which will influence investor interest. Historically, some crypto ETF launches have seen robust initial flows, while others struggled to gain traction.
Investors and analysts are expected to closely monitor the initial trading days for hints on market reception. High trading volumes and narrow spreads would suggest strong demand, whereas low turnover or wide spreads might indicate lukewarm interest.
Market observers will also be keen to see if the ETFs attract the speculative trading activity that has recently driven derivative volumes. The simultaneous listing of GDOG and GXRP signifies a crucial step for mainstream crypto products, structured as spot ETFs that hold the underlying tokens through custodians. While this doesn’t eliminate price risk, it simplifies the process of buying these assets for a wide range of investors.
Featured image from Gemini, chart from TradingView
