Grayscale Ignites Crypto Markets: Dogecoin and XRP ETFs Launch on NYSE November 24

Wall Street's crypto embrace accelerates as Grayscale drops two explosive ETF offerings.

Mainstream Meets Meme

The institutional gateway swings wide open—Dogecoin's journey from joke to legitimate asset class hits its ultimate milestone. Simultaneously, XRP secures its long-awaited Wall Street validation after years of regulatory battles.

NYSE Trading Floor Revolution

Traditional finance veterans now face direct exposure to crypto's most polarizing assets. The November 24 launch date signals Grayscale's aggressive expansion beyond Bitcoin and Ethereum products.

Market Impact Unleashed

Expect massive liquidity injections as institutional money meets community-driven tokens. The move potentially reshapes both assets' volatility profiles while offering unprecedented access.

Because nothing says financial innovation like making hedge funds trade meme coins alongside their blue-chip stocks.

This launch will prove to be quite significant for Grayscale, which has already established itself strongly in the market with its Bitcoin and ethereum ETFs.

Grayscale ETFs Open Crypto to Traditional Investors

This NYSE approval allows Grayscale to give ETF shares to investors on its regulated trust platform. This regulated platform enables traditional investors to gain investment in Dogecoin and XRP without holding or possessing the cryptocurrencies.

The management fee for both ETFs is 0.35%. As of now, Grayscale handles more than $35 billion in client assets, and its XRP trust was launched in September last year.

By using the ETF structure, Grayscale can overcome traditional barriers to entry. This is because investors can now hold alts using common brokerage accounts or IRAs without using any kind of cryptocurrency wallet or other cryptographic custody solutions.

This makes investing in cryptocurrencies more attractive to institutional and individual investors who had shown aversion to them in the past.

Earlier in the year, Grayscale submitted a proposal to the United States SEC to convert its XRP investment product into an ETF, in line with its success in administering ETFs for Bitcoin and Ethereum. It has also filed for an IPO to publicly list its Class A common stock on the NYSE.

Dogecoin & XRP ETFs Spark Trading Surge

Before the ETF launch, trading volumes for both assets rose. The volume for Dogecoin derivatives ROSE by over 30% to $7.22 billion, while that for XRP derivatives rose by 51% to $12.74 billion, as per data from CoinGlass.

Price action has certainly shown activity in the days leading up to trading. Currently, Dogecoin is trading at $0.1365, representing a loss of 1.66% over the last 24 hours.

Moreover, at the time of writing, XRP is trading at $1.89. xrp price decreased by -1.69% in the last 24 hours.

Their concurrent launch signifies a historic development for cryptocurrency acceptance, as it enables a larger investor base to gain access to two of the most widely recognized cryptocurrencies other than bitcoin and Ethereum.