Grayscale’s Dogecoin and XRP ETFs to Start Trading on November 24

Well-known asset manager Grayscale is set to roll out two Exchange Traded Funds (ETFs) on the same day. On November 24, the company will begin trading both its Dogecoin ETF and XRP ETF on the New York Stock Exchange. 

This marks a new chapter for Grayscale and an important milestone for the Dogecoin and XRP communities.

Grayscale Dogecoin and XRP ETFs Bag Approval

NYSE Arca has confirmed that both ETFs meet all the rules and are officially allowed to start trading. With this approval, the Grayscale Dogecoin ETF and the Grayscale XRP ETF will transition from private investment products to fully public exchange-traded funds.

This shift gives everyday investors a simple way to gain exposure to Dogecoin and XRP without having to buy or store the tokens themselves. For existing holders, the move from private trusts to ETFs will be smooth and direct.

While this marks Grayscale’s first Dogecoin ETF, another DOGE-based fund entered the market earlier in the year. Even so, the loyal and energetic communities behind both assets provide strong support as the ETFs prepare to launch.

Grayscale ETFs Bring New Options Beyond Bitcoin and Ethereum

The arrival of these ETFs gives investors safer and regulated ways to invest in crypto. So far, most ETFs have focused on Bitcoin and Ethereum. By including Dogecoin and XRP, Grayscale is opening up more options for people who want to explore other digital assets.

The timing is important. The crypto market has been under pressure for six straight weeks. Bitcoin has dropped more than 25% since October, and over a trillion dollars in value has disappeared from the market. 

Earlier in the year, ETF approvals helped lift prices. This time, the mood is more cautious as traders face losses and lingering uncertainty.

Meanwhile, Bloomberg analyst Eric Balchunas confirmed the approvals and hinted that the proposed Grayscale Chainlink ETF may be next. This shows how quickly Grayscale is expanding beyond its well-known Bitcoin and Ethereum products. 

Altcoins Show Life Despite a Weak Market

Even with the downturn, both Dogecoin and XRP are showing increased activity. Dogecoin’s trading volume has jumped, with the asset bouncing between recent lows and short recoveries. 

XRP has been even more unpredictable, moving up and down quickly as investors get ready for the ETF launch. These changes show that people are still very interested in both tokens, even when the market is tough.

At the time of writing, XRP is trading at $1.93, up by 0.24% in the last 24 hours. Dogecoin, on the other hand, 0.1389, down by 0.37% in the last 24 hours, according to CoinMarketCap data.