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Grayscale Investments plans to launch two spot crypto exchange-traded funds on NYSE Arca on Monday, November 24, 2025. The funds will trade as the Grayscale Dogecoin Trust ETF (GDOG) and the Grayscale XRP Trust ETF (GXRP). Each product holds its respective token and seeks to mirror the spot price in public markets.
NYSE Arca filed certification letters on November 21 confirming that both trusts meet listing and registration standards under the Securities Exchange Act of 1934. The approvals convert long-running private placements into fully listed ETFs, giving current investors a path to daily liquidity through an exchange.
The GDOG and GXRP launches arrive as US issuers expand beyond bitcoin and ether ETFs. Bitwise introduced a spot XRP ETF on November 20, 2025, joining an earlier XRP product from Canary Capital. Those XRP ETFs have attracted roughly $422 million in combined inflows during their first two weeks, signaling demand for regulated XRP exposure.
Dogecoin ETFs have also transitioned from a niche to a small but growing segment. REX-Osprey listed the first US Dogecoin ETF in September 2025 and Grayscale’s GDOG became the second spot vehicle tied to the memecoin. Franklin Templeton has announced plans to launch its own Dogecoin ETF in late November, adding another competitor to the category.
Issuers are also building single-asset funds for other large altcoins. Bitwise’s spot Solana ETF (BSOL) debuted on October 28, 2025, and has drawn about $444 million in inflows. The rapid uptake has encouraged additional filings for Solana and other tokens under current exchange standards.
The SEC’s 2025 framework for crypto ETP listings has enabled the latest wave of approvals. Exchanges can list compliant products through pre-approved standards, even during a federal government shutdown, as long as issuers satisfy disclosure and market surveillance requirements. Market participants link the faster cadence to SEC Chair Paul Atkins’ “Project Crypto,” which prioritizes registration and transparency.
At the same time, flow trends differ across the ETF market. US spot Bitcoin ETFs recorded $238.4 million in inflows on November 21 and about $4 billion in outflows over the past month, alongside a sharp pullback in bitcoin’s price. Analysts track these withdrawals as a key demand signal for the wider crypto market, which now includes a growing set of altcoin spot ETFs.
Also Read: Fidelity Launches FSOL Solana ETF on NYSE Arca with Zero Fees Until 2026
