XRP News Today: Crypto ETF "Palooza" Looms as Grayscale, Bitwise Flood Market With Altcoin Bets

Grayscale Investments is set to debut its Dogecoin (GDOG) and XRP (GXRP) exchange-traded funds (ETFs) on the NYSE Arca this week, marking a significant expansion of regulated crypto exposure as demand for alternative coin products surges. The launch follows a strategic pause by the firm after the U.S. government reopened in late October, clearing the path for the Securities and Exchange Commission (SEC) to resume processing applications.

The new ETFs, which will trade directly on the NYSE Arca, offer investors spot exposure to Dogecoin and XRP, two of the most contentious assets in the crypto market. This move aligns with a broader industry trend: rival asset manager Bitwise recently launched its XRP ETF, while Franklin Templeton and others are expanding into altcoin-linked products. The Grayscale ETFs join a growing ecosystem of crypto funds, including 21Shares' sixth Solana ETF, which debuted with a 0.21% fee and added to a $421 million inflow streak for SOL-linked products.

Regulatory momentum has accelerated after a 43-day government shutdown paused SEC operations. Analysts predict a flood of new ETF approvals in 2026, with Bitwise's chief investment officer Matt Hougan forecasting "ETF-palooza in crypto land," including over 100 launches. The resumption of SEC activity also coincided with Kraken's confidential IPO filing, underscoring crypto firms' push for traditional finance integration.

Despite bullish product launches, market dynamics remain volatile. Bitcoin recently bounced above $84,000 following Federal Reserve Chair Jay Powell's comments suggesting a December rate cut, but crypto ETFs have faced outflows. Bitcoin ETFs recorded $1.1 billion in outflows in November alone, pushing the average cost basis below the current price of $84,600. XRP fell 13% in a week despite its ETF's record $58 million debut.

The regulatory thaw has also spurred cross-industry collaboration. Coinbase's $1.1 billion acquisition of onchain trading platform Vector, which operates on the Solana network, aims to enhance access to decentralized markets. Such moves highlight crypto's growing institutional legitimacy, even as debates over ETF performance and market stability persist.