Grayscale Dogecoin and XRP ETFs Approved for Launch
NYSE Arca has approved Grayscale’s Dogecoin and XRP ETFs for trading, marking the final regulatory steps before their debut on Monday. This approval allows for the conversion of private trusts into publicly traded exchange products, bringing GDOG and GXRP to U.S. markets.
The launch follows formal certification, SEC filings, and exchange approvals confirmed late Friday. Both altcoin ETFs meet SEC rules and transition from private trusts to exchange-traded funds, making them accessible to a wider investor base.
Launch Timeline and Regulatory Context
The clearing notice from NYSE Arca confirmed the listings for Grayscale Dogecoin Trust ETF Shares and Grayscale XRP Trust ETF Shares. The exchange approved their registration under the Exchange Act of 1934, facilitating their conversion from privately offered trusts into exchange-listed products.
This conversion process is designed to enhance investor access through NYSE Arca’s established trading system. Both ETFs are scheduled to begin trading at the first session on Monday, following the formal certification issued on Friday afternoon.
These approvals align with the SEC's guidance on altcoin ETF procedures, which were clarified during a period of government shutdown. As a result, several altcoin ETFs have gained operational clarity, and GDOG and GXRP will now launch under these established compliance standards.
The filings indicated no changes to existing outstanding stock certificates. The trust’s name was officially changed prior to listing, with Grayscale updating the Dogecoin product name earlier in the week to reflect the shift from a trust structure to an ETF format.
XRP has undergone a similar conversion structure. According to NYSE filings, both products meet all disclosure requirements. The trading symbols GDOG and GXRP will be visible on Arca systems, signifying the final procedural approval for live market trading.
Product Structure and Market Impact
The two new ETFs are structured as spot exchange-traded products that hold existing assets, allowing them to track price performance without requiring investors to manage direct token custody. GDOG will provide direct exposure to Dogecoin's pricing, while GXRP will similarly track XRP market movements through a regulated framework.
This structure is consistent with Grayscale’s existing Bitcoin and Ethereum offerings, further expanding the firm’s portfolio of altcoin products. Grayscale now manages over forty crypto-related investment vehicles.
These new listings follow earlier approvals of Litecoin, HBAR, and Solana ETFs, which were based on SEC procedural guidance rather than direct agency endorsement. The process prioritized adherence to listing standards.
NYSE Arca confirmed that these standards received SEC approval in September, ensuring that GDOG and GXRP meet all necessary requirements. Grayscale also filed Form 8-A to register DOGE shares, establishing the eligibility for exchange trading.
The trust's classification falls under Section 12(b), and formal name transition details have been recorded, changing the identification to Grayscale Dogecoin Trust ETF. This branding change aims to provide clear identification for market participants. Existing certificates remain valid and unaffected, ensuring continuity for prior stakeholders.
Analyst Confirmations and Market Developments
Analyst Eric Balchunas confirmed the Monday launch, noting the final readiness for trading and stating that both ETFs would open during the first trading session. He also mentioned a potential LINK ETF launch next week, although only DOGE and XRP received confirmed clearance for Monday.
In related market developments, Bitwise launched its XRP ETF earlier this week, representing a significant step for XRP-focused investment instruments. Franklin Templeton is also preparing to debut its Dogecoin ETF next week. Separately, REX Shares and Osprey Funds introduced a DOGE ETF in September, which followed a different regulatory path under the Investment Company Act of 1940.
Grayscale's chosen method involves converting existing trusts into ETFs using regulated trust frameworks. Additionally, Canary adjusted its filings by removing an SEC delay clause, supporting its ETF progression timeline. Derivatives activity for DOGE and XRP contracts has also seen an increase in volume, coinciding with the final listing preparations.
The scheduled launch confirms that Grayscale’s Dogecoin and XRP ETFs will trade on NYSE Arca on Monday, following their formal approvals. The conversion from private trusts to regulated exchange products expands investor access through established compliance frameworks. The coordinated listings, filings, and analyst confirmations outline a structured rollout for the trading of GDOG and GXRP.