Grayscale's Dogecoin and XRP ETFs Set to Launch on NYSE November 24

Grayscale has secured approval from the New York Stock Exchange to debut its Dogecoin and XRP ETFs, both slated to begin trading on November 24. This regulatory endorsement was confirmed in a letter to the Securities and Exchange Commission.

Launch Date Confirmed for Grayscale’s DOGE and XRP ETFs

Bloomberg ETF analyst Eric Balchunas shared the news on X, highlighting the historical significance as these are the first spot ETFs for Dogecoin and XRP on a major U.S. exchange.

The approval enables Grayscale to offer Dogecoin ETF shares to investors via its regulated trust platform, allowing conventional investors to engage with the token's price dynamics without direct ownership.

Balchunas also confirmed that the spot XRP ETF will be released concurrently. This launch is a landmark for Bitwise, indicating rising interest in XRP-linked investment vehicles.

These ETFs are scheduled for trading at the NYSE’s first session on Monday, with an expected LINK ETF by Grayscale projected to follow a week later.

Rising Activity in Derivatives Market

The impending launch is part of a broader trend with other issuers like Canary, who expedited their XRP ETF listing by removing SEC-related delays. The synchronized launch on November 24 marks a pivotal moment for the U.S. crypto ETF space, introducing two prominent altcoin ETFs simultaneously.

Anticipation is high given Dogecoin and XRP's robust communities and trading volumes. Pre-launch, both altcoins exhibit strong derivatives market activity.

Grayscale's recent U.S. IPO filing underscores its growth ambitions. CoinGlass data reports a 30% surge in Dogecoin derivatives volume, reaching $7.22 billion. TradingView charts show initial Dogecoin price drops stabilizing near $0.14.

Similarly, XRP derivatives volume soared 51% to $12.74 billion. TradingView data indicates a sharp early drop, with prices rebounding to around $1.96.