Grayscale Investments to list spot ETFs for Dogecoin and XRP at NYSE Arca November 24, 2025, offering a new way for everyday investors to buy these coins through regular brokerages.
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According to exchange notices and regulatory documents, the funds will be traded under the ticker GDOG for Dogecoin and GXRP for XRP. The listings convert Grayscale’s existing private placement funds into publicly traded products.
Grayscale moves on to list Dogecoin and XRP
Reports revealed that both ETFs have received approval for listing, with filings filed with the US Securities and Exchange Commission.
The move brings immediate exposure to two smaller but widely followed cryptocurrencies into a mainstream vehicle. For many investors, this means access without directly managing wallets or private keys.
Grayscale Dogecoin ETF $GDOG approved for listing on the NYSE, beginning trading on Monday. Their XRP spot also launches on Monday. $GLNK soon too, a week later I think pic.twitter.com/c6nKUeDrtI
— Eric Balchunas (@EricBalchunas) November 21, 2025
Pre-launch market activity
Related derivatives trading activity increased ahead of the announcement. Dogecoin derivatives volume increased by more than 30% to approximately $7.22 billion, based on exchange data.
XRP derivatives also rose, jumping about 51% to about $12.74 billion. Based on the report, these spikes reflect traders’ positioning for potential price swings around the ETF’s debut.
Spot ETFs don’t promise higher prices, but they do change who can buy assets. Brokers, pension plans and funds that avoid direct custody of crypto can now jump in.
This could affect the liquidity of both tokens and their markets. At the same time, the overall crypto market has come under pressure; reports say the launches came during a roughly six-week slump.
DOGE market cap currently at $21.4 billion. Chart: TradingView
Questions related to demand and flows remain
Product fees, custody details and how trusts are converted into ETF shares will shape investor appetite. Past crypto launches ETFs it showed fast early flows for some products, while muted interest was recorded for others. What is important for prices is not only the quotations, but also the inflows and outflows once trading begins.
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Investors and analysts will likely be watching the first few days of trading for clues. High volume and tight spreads indicate high demand. Low turnover or wide margins may signal weak interest.
Based on the report, market participants will also be watching to see if ETFs pull the same kind of speculative trading that has fueled derivatives volume in recent days.
The listing of GDOG and GXRP on the same date marks a significant step for mainstream crypto products. According to stock filings, the funds are structured as spot ETFs that hold the underlying tokens through a custodian. While this does not eliminate price risk, it does make buying these assets easier for a broad group of investors.
Featured image from Gemini, chart from TradingView
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