XRP News Today: Grayscale's Altcoin ETFs Signal Crypto's Mainstream Arrival

Grayscale Investments has secured approval from the New York Stock Exchange (NYSE) to launch its Dogecoin and XRP spot exchange-traded funds (ETFs), set to begin trading on November 24, 2025. This marks the first time two major altcoin ETFs will debut simultaneously on a U.S. exchange, signaling a pivotal expansion of crypto investment products into traditional financial markets. The ETFs, which will trade under the tickers $GDOG for Dogecoin and $GXRP for XRP, convert from private placement trusts to publicly traded ETFs, offering investors regulated access to these digital assets without the need for direct token ownership according to analysis.

The approval follows regulatory filings with the Securities and Exchange Commission (SEC) and comes amid a surge in derivatives trading activity for both assets. Data from CoinGlass shows Dogecoin derivatives volume rose 30% to $7.22 billion, while XRP derivatives volume spiked 51% to $12.74 billion in the weeks leading up to the launch. Despite these gains, both cryptocurrencies experienced intraday price declines before recovering, with Dogecoin trading near $0.134 and XRP near $1.85 at times according to market reports.

Grayscale's move reflects broader industry momentum. Bitwise Asset Management recently launched its own XRP ETF, and Franklin Templeton is expected to debut a Dogecoin ETF soon, intensifying competition in the altcoin ETF space. The firm's Dogecoin ETF will be the second in the U.S., following REX Shares and Osprey Funds' September launch, while its XRP ETF joins a growing list of altcoin products leveraging SEC guidance for streamlined approvals.

The ETFs carry a 0.35% management fee and are part of Grayscale's strategy to diversify beyond its flagship Bitcoin and Ethereum products. The company, which oversees over $35 billion in assets, is also preparing for an initial public offering (IPO) to list its Class A shares on the NYSE, a move that underscores its ambition to scale its regulated crypto investment platform.

However, Grayscale faces challenges, including declining revenue and legal uncertainties tied to its parent company, Digital Currency Group, which is embroiled in lawsuits related to the 2022 collapse of Three Arrows Capital and Gemini's lending program.

Market analysts remain cautiously optimistic. Bloomberg's Eric Balchunas noted the dual launch as a "significant expansion" for Grayscale and hinted at a potential Chainlink ETF rollout soon. Yet, the broader crypto market remains in a six-week downturn, with Bitcoin down over 25% since October and total market capitalization falling by a trillion dollars. While ETF launches previously boosted prices during bullish cycles, their impact in this bearish environment remains uncertain.

The XRP ETF's approval also follows key regulatory developments, including Ripple's removal of a delay clause in its ETF application, which cleared the way for broader altcoin ETF activity according to reports. Meanwhile, the Dogecoin ETF's debut could test demand for meme coins among institutional investors, given its unique position as the first and largest memecoin by trading volume.

Grayscale's IPO filing, however, highlights financial strains. The firm reported a 19.9% revenue decline in the nine months ending September 30, 2025, amid rising sales and marketing expenses and reduced operating margins. Critics argue the IPO's structure, which grants Digital Currency Group voting control through Class B shares, could limit transparency and growth reinvestment.

As the November 24 launch date approaches, the ETFs represent both an opportunity and a test for Grayscale. If successful, they could normalize altcoin exposure in traditional portfolios and validate the firm's pivot to ETFs as a core business model. However, the broader crypto market's volatility and regulatory uncertainties will remain critical factors shaping their long-term viability.

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