Grayscale Launches XRP ETF on NYSE As Competition in Crypto Products Accelerates

XRP ETFs lead fresh momentum as strong early volumes show rising demand for regulated access and rapid market expansion.

New crypto ETF launches gain pace as issuers race to secure listings and meet strong investor appetite this quarter.

Dogecoin and other digital asset products advance toward approvals as firms position for increased market activity.

Grayscale’s XRP ETF begins trading on the New York Stock Exchange today after receiving final clearance last week. The approval process moved quickly, and analysts linked the speed to rising demand for regulated XRP exposure. Public filings signaled that the product was ready for listing, and the timeline matched earlier projections from market watchers.

The launch arrives during a period of intense competition among XRP ETF issuers. Bitwise entered the market this month with its updated XRP product, which recorded nearly $22 million in early trading. Analysts noted that most activity came within the first hours, showing strong appetite for XRP-linked investment vehicles.

Canary Capital also delivered a standout performance earlier this month. Its XRPC ETF attracted more than $250 million in first-day inflows and became one of the strongest early movers in the sector this quarter. The momentum has pushed other firms, including 21Shares and CoinShares, to advance their own XRP filings. Their schedules could align with broader growth across the digital asset category.

Dogecoin ETF Launch Follows

Grayscale will also debut its Dogecoin ETF today. The exchange approved the listing last week, and regulators acknowledged all related documents shortly after. Analysts had projected a late-November rollout, and the progress matched those expectations once the filings appeared in public records. Additional documents suggested that Grayscale’s Chainlink ETF may advance toward listing next week.

The DOGE ETF is expected to draw meaningful early interest. Forecasts place potential day-one trading volume near $11 million. The product converts Grayscale’s existing Dogecoin trust into an ETF that tracks DOGE’s market price. The structure offers exposure without requiring investors to manage digital wallets.

More Firms Prepare DOGE Products

Other issuers are also expanding their Dogecoin offerings. 21Shares recently appeared on the DTCC website with its proposed DOGE ETF. The firm updated its prospectus last month and awaits regulatory approval. It plans to list the product on Nasdaq once clearance arrives. The timeline may overlap with Grayscale’s debut, which could lift overall demand for DOGE-focused investment products.