Dogecoin ETF Begins Trading As Grayscale Secures NYSE Approval

Grayscale’s Dogecoin ETF ($GDOG) and XRP ETF ($GXRP) officially began trading on the NYSE following last week’s approval.

DOGE ETF launch converts Grayscale’s existing trust into a regulated product, with projected first-day volume near $11 million.

Additional crypto ETFs from 21Shares and a Chainlink fund ($GLNK) are also in progress, expanding the regulated crypto investment market.

Dogecoin is entering a new phase in its market presence as Grayscale launches its DOGE ETF on the New York Stock Exchange. The product, approved by the NYSE last week, began trading today, marking a significant moment in regulated access to the cryptocurrency. The launch reflects Grayscale’s broader move to convert existing crypto trusts into exchange-traded funds that track market value without direct custody by investors.

NYSE Clears DOGE ETF for Trading

The New York Stock Exchange finalized approval for the Grayscale Dogecoin ETF last Friday. Grayscale confirmed all necessary filings had been submitted to the Securities and Exchange Commission. This approval clears the way for public trading under the ticker symbol $GDOG. According to documentation shared by Bloomberg analyst Eric Balchunas, trading was set for November 24, and the ETF went live as projected.

Balchunas estimated that the first-day trading volume for the DOGE ETF could reach $11 million. That estimate was based on trading patterns from previous ETF launches in the crypto category. Grayscale stated that the ETF would convert its existing Dogecoin trust, allowing the firm to use token reserves within a regulated investment structure.

XRP-Based ETF Also Launches

Alongside the DOGE fund, Grayscale launched a second product tied to XRP. The new $GXRP ETF also began trading today. This follows the release of the Bitwise XRP ETF last week, which generated $22 million in trading volume within a few hours. Bloomberg analyst James Seyffart noted that a large portion of Bitwise’s volume occurred early in the session.

The timing of the $GXRP ETF comes shortly after another major XRP product, the XRPC ETF from Canary Capital, launched earlier this month. On its opening day, Canary’s fund saw inflows exceeding $250 million. Additional firms, including 21Shares and CoinShares, are also advancing XRP-based ETF products.

DOGE Sees Multiple Developments Ahead

While Grayscale moves forward with its DOGE ETF, 21Shares is also preparing a competing Dogecoin fund. In October, the firm updated key filing details for its DOGE product, which is still under review by the SEC. 21Shares plans to list its ETF on Nasdaq, pending regulatory approval. The firm has not announced a specific timeline for the launch.Grayscale also confirmed a Chainlink ETF is expected to launch the following week. Analyst Eric Balchunas posted that the $GLNK fund is in its final approval stages and may go live shortly after this week’s launches. The company has not provided an official launch date. With DOGE and XRP products now live, the crypto ETF landscape continues expanding, reflecting increased institutional interest in regulated crypto exposure.