Two new crypto exchange-traded funds (ETFs) from Grayscale will go live on NYSE Arca on Monday, offering simpler access to US investors. And XRP via regulated public markets for the first time.
The Grayscale Dogecoin Trust ETF (GDOG) and the Grayscale XRP Trust ETF (GXRP) are each structured as spot ETPs that hold their respective underlying assets.
Dogecoin, once viewed primarily as a joke cryptocurrency, has become one of the most actively traded digital assets by volume.
Meanwhile, GXRP launched as the XRP Ledger (XRPL), a blockchain designed for cross-border payments, which is nearing its fourteenth year. The ledger has processed over 4 billion transactions since its inception.
GXRP and GDOG were initially available as private placements before going public on NYSE Arca. Their launch adds to Grayscale’s growing suite of crypto-related investment products, which now spans more than 40 offerings.
Grayscale’s launch follows a wave of new altcoin ETFs. Franklin Templeton is expected to launch its own Dogecoin ETF next week, while Bitwise’s XRP ETF went live earlier this week. Bitwise’s Solana ETF (BSOL), which launched earlier this year, has already attracted more than $400 million in investments, reflecting growing institutional interest in non-Bitcoin crypto assets.