NYSE Arca has greenlit the launch of Grayscale’s exchange-traded funds tied to Dogecoin and XRP, with the products set to go live for trading on Monday.
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The New York Stock Exchange has approved the listing of Grayscale’s Dogecoin and XRP exchange-traded funds (ETFs), teeing up both to launch on Monday.
NYSE Arca, a subsidiary of the exchange, the Securities and Exchange Commission on Friday to certify “its approval for listing and registration” of the Grayscale XRP Trust ETF (GXRP) and the Grayscale Dogecoin Trust ETF (GDOG).
Bloomberg senior ETF analyst Eric Balchunas posted the NYSE’s approvals to X on Sunday, and said Grayscale’s ETF tied to Chainlink () will follow in the next week or so.
“Grayscale Dogecoin ETF $GDOG approved for listing on NYSE, scheduled to begin trading Monday. Their XRP spot is also launching on Monday,” he said. “$GLNK coming soon as well, week after I think.”
The signing off by the NYSE marks the final approval needed for Grayscale’s spot Dogecoin () ETF to go live, one of many ETFs tied to speculative cryptocurrencies that asset managers have brought to market in recent weeks.
Grayscale’s Dogecoin ETF is a conversion of the firm’s existing trust into an ETF that tracks the price of DOGE. Balchunas tipped the ETF’s first-day volume to hit around $11 million.
The Grayscale’s XRP () ETF is expected to launch alongside a competing product from Franklin Templeton, while an XRP ETF from WisdomTree is also awaiting launch.
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The launch of Canary Capital’s ETF (XRPC) on Nov. 13 marked the first spot XRP ETF in the US. The fund got off to a solid start, fetching of inflows during its first trading day.
Meanwhile, Bitwise, 21Shares and CoinShares have also launched XRP ETFs this month, as competing products flooded the market following the end of the US government shutdown and the SEC loosening its checks on crypto ETFs.
Despite ETFs typically being bullish for the underlying asset, XRP has declined by around 18% since the start of November, according to from CoinGecko.
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