New spot ETFs expand regulated U.S. market access to Dogecoin and XRP
Grayscale is set to debut two new cryptocurrency exchange-traded funds — the Grayscale Dogecoin Trust ETF (GDOG) and Grayscale XRP Trust ETF (GXRP) — on NYSE Arca this Monday, giving U.S. investors regulated spot exposure to both assets for the first time through public markets.
The launches come amid increasing demand for altcoin-based ETFs, as institutional and retail investors look beyond Bitcoin for diversification. The move also follows similar expansions from Bitwise and Franklin Templeton, which recently introduced products tied to DOGE, XRP, and Solana.
DOGE and XRP Gain Momentum as ETF Markets Broaden
Dogecoin, once dismissed as a meme token, has emerged as one of the most heavily traded digital assets by global volume. Its transition from online joke to mainstream speculative asset has helped push demand for simplified, regulated investment vehicles such as spot ETFs.
Meanwhile, the introduction of GXRP comes at a pivotal time for the XRP Ledger (XRPL). Approaching its fourteenth year, the blockchain — optimized for fast, low-cost cross-border payments — has processed more than 4 billion transactions since inception, showing sustained network activity and enterprise usage.
Transition From Private Placements to Public Markets
Both GDOG and GXRP originated as private placement trusts available to accredited investors. Their transition to publicly traded ETFs significantly broadens market accessibility and strengthens Grayscale’s position as a leading crypto asset manager.
With these additions, Grayscale now offers a suite of more than 40 digital-asset investment products, covering a wide range of blockchains, tokens, and strategies.
Rising Institutional Interest in Altcoin ETFs
The launch of GDOG and GXRP comes as asset managers intensify their presence in the altcoin ETF segment:
- Bitwise launched its XRP ETF earlier this week
- Bitwise’s Solana ETF (BSOL), introduced earlier this year, has already drawn over $400 million in inflows
- Franklin Templeton is preparing to roll out its own Dogecoin ETF next week
These developments highlight a broader trend: institutional appetite for non-Bitcoin crypto exposure is accelerating, driven by diversification strategies and increasing regulatory clarity around spot crypto ETPs.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.