Dogecoin is gearing up for a major week as Grayscale officially launches its DOGE ETF on the New York Stock Exchange. The fund, trading under the ticker GDOG, is expected to bring in strong early activity, with analysts projecting as much as $11 million in first-day trading volume. Grayscale is also rolling out its new XRP ETF (GXRP) today, adding more momentum to the expanding crypto ETF landscape.
Grayscale confirmed that the DOGE ETF would begin trading today following last week’s NYSE approval. The exchange also acknowledged that all necessary filings had been submitted to the SEC. Bloomberg analyst Eric Balchunas, who correctly predicted the November 24 launch date, shared documents showing the NYSE’s approval and noted that Grayscale’s Chainlink-based ETF could go live as early as next week.
Balchunas believes GDOG’s opening day could mirror the performance of other newly launched crypto funds, projecting near $11 million in trading volume. The ETF converts the existing Dogecoin trust into a regulated exchange-traded product that tracks the asset’s market price. This structure lets Grayscale use its Dogecoin reserves while giving investors exposure to the meme coin without managing their own wallets.
Alongside GDOG, Grayscale’s XRP ETF (GXRP) is also debuting today. Its launch follows the recent arrival of the Bitwise XRP ETF, which generated nearly $22 million in volume within hours. Bloomberg’s James Seyffart highlighted that a large share of that volume occurred early in the session, signaling strong demand for XRP-based products.
These developments come shortly after Canary Capital’s XRPC ETF recorded more than $250 million in first-day inflows earlier this month. Several other firms, including 21Shares and CoinShares, are now working on XRP-focused ETFs as interest in regulated crypto products continues to grow.
Dogecoin is also gaining further institutional attention. Last month, 21Shares updated key details for its own DOGE ETF, which is pending SEC approval. The firm plans to list the product on Nasdaq, potentially joining Grayscale in expanding the investment options for DOGE later this year.
