The New York Stock Exchange (NYSE) has given the green light for the listing of two new crypto ETFs: the Grayscale Dogecoin Trust ETF and the Grayscale XRP Trust ETF. Both products will be tradable from Monday, following the exchange‘s submission of the required certification to the U.S. Securities and Exchange Commission (SEC). 

Growing competition among ETF providers

With this development, Grayscale‘s existing Dogecoin trust will be converted into a spot ETF, directly tracking DOGE price movements. A similar structure applies to the new XRP ETF. According to Bloomberg analyst Eric Balchunas, Grayscale‘s Chainlink fund is also expected within a week. Balchunas predicts that the Dogecoin ETF will reach roughly 11 million dollars in trading volume on its first day—consistent with typical patterns seen during the launch of crypto-related ETFs. Grayscale‘s new XRP ETF will compete directly with the XRP product from Franklin Templeton, which also goes live on Monday. WisdomTree is likewise preparing to launch its own XRP ETF, contributing to the rapid expansion of available options.

Earlier this month, Canary Capital‘s XRPC became the first spot XRP ETF in the United States. The fund recorded more than 250 million dollars in inflows on its first trading day—clear evidence of strong investor interest in XRP products. Additionally, Bitwise, 21Shares, and CoinShares have each launched new XRP ETFs during the same period.

Price performance lags despite growing ETF availability

Although a larger range of ETFs typically increases accessibility and potentially boosts demand, XRP has underperformed in recent weeks. The token has fallen by roughly 18% since early November, despite the wave of new funds offering more ways to gain exposure.

Disclaimer: This is not financial advice. Always consider conducting your own research and consulting professional guidance before making investment decisions.