The New York Stock Exchange has cleared Grayscale’s spot Dogecoin and XRP exchange-traded funds to list on NYSE Arca, with both scheduled to begin trading Monday.
Grayscale’s Dogecoin fund is a conversion of the firm’s existing DOGE trust into a spot ETF that tracks the token’s market price. Bloomberg ETF analyst Eric Balchunas estimated first-day trading volume at about US$11 million (AU$17 million).
Balchunas shared the approvals on X and said a Grayscale Chainlink product (GLNK) is expected to list roughly a week later. The firm recently released a report highlighting Chainlink as the “connective tissue” that could power the next stage of tokenisation of real world assets.
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Grayscale’s Dogecoin fund is a conversion of the firm’s existing DOGE trust into a spot ETF that tracks the token’s market price. The same thing applies to the firm’s Chainlink Trust.
Bitwise, 21Shares and CoinShares have also rolled out XRP ETFs in recent weeks, adding to a wave of crypto products hitting US markets after the end of the federal government shutdown and a softening of SEC scrutiny over new crypto ETF filings.
Canary Capital’s XRPC, the first U.S. spot XRP ETF, went live on Nov. 13 and recorded more than US$250 million (AU$380 million) in first-day inflows.
XRP is currently trading at US$2.24 (AU$3.47), a solid 7.5% increase in the last 24 hours. Generally speaking, the crypto market has experienced a massive sell-off in the last couple of weeks, with continued pressure on many high-profile cryptocurrencies like XRP.
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The post Grayscale’s Dogecoin and XRP ETFs Cleared for NYSE Debut, Chainlink Fund Next in Line appeared first on Crypto News Australia.
