Grayscale’s two new cryptocurrency exchange-traded funds (ETFs) will launch on NYSE Arca on Monday, offering US investors simplified access to and XRP for the first time through regulated public markets.
The Grayscale Dogecoin Trust ETF (GDOG) and the Grayscale XRP Trust ETF (GXRP) are structured as spot ETPs that hold their respective underlying assets.
Dogecoin, once seen primarily as a joke cryptocurrency, has become one of the most traded digital assets by volume.
Meanwhile, the launch of GXRP comes as the XRP Ledger (XRPL), a blockchain designed for cross-border payments, approaches its 14th year. The ledger has processed more than 4 billion transactions since its inception.
GXRP and GDOG were initially available as private placements before going public on NYSE Arca. Its debut adds to Grayscale’s growing suite of cryptocurrency-related investment products, which now spans more than 40 offerings.
Grayscale’s launches follow a wave of new altcoin ETFs. Franklin Templeton is expected to launch its own Dogecoin ETF next week, while Bitwise’s XRP ETF launched earlier this week. Bitwise’s Solana ETF (BSOL), which debuted earlier this year, has already attracted more than $400 million in inflows, reflecting growing institutional interest in non-Bitcoin cryptoassets.
