Grayscale’s DOGE and XRP ETFs Set To Surprise Market With Debut on NYSE

• DOGE ETF marks major regulatory shift as first 1933 Act memecoin approval.
• Analysts debate whether Dogecoin deserves ETF credibility amid growing investor curiosity.
• XRP volume surges ahead of GXRP launch, showing strong pre-event market positioning.

The crypto market is gearing up for an important moment. Grayscale will launch two new spot ETFs tomorrow (November 24) on NYSE Arca: the Grayscale Dogecoin Trust ETF (GDOG) and the Grayscale XRP Trust ETF (GXRP). 

DOGE Gets Its First Official ETF

GDOG is attracting unusual attention because it will be the first Dogecoin ETF registered under the 1933 Securities Act. ETF expert Nate Geraci says this launch is more symbolic than many realize. 

He said that the approval of a Dogecoin ETF shows how dramatically the regulatory landscape has shifted in the past year. Crypto products that once seemed impossible to approve are now getting green lights, which he sees as a strong sign of progress.

Some critics argue that a meme coin does not belong in a regulated ETF structure. When Geraci was asked whether DOGE is being given credibility it may not deserve, he responded by questioning where people draw the line.

He pointed out that investors already have access to memecoin ETFs, leveraged ETFs of every kind and highly volatile international ETFs. The point was simple: the market has room for choice, and regulation is catching up.

Related: XRP Could Reach $5 This Year as ETF Demand Soars and Analysts Signal Upside

XRP Builds Momentum Ahead of GXRP Launch

While GDOG sparks debate, GXRP is driving market excitement. XRP began climbing toward $2.08 today with trading volume jumping more than 13% to $4 billion. This sharp increase often means that traders are positioning early before a major event. Big volume right before an ETF launch can set the stage for sudden volatility once real trading begins.

The appetite for XRP ETFs is already visible. Canary’s small XRP ETF, with around $100 million in assets, recorded $58 million in first-day volume. That number even beat the debut of Bitwise’s Solana ETF, which opened with $57 million. Bitwise’s own XRP ETF also saw a solid $25.7 million by the end of its first trading day. Franklin Templeton’s XRP ETF is also set to go live alongside Grayscale on Monday. 

So Where Should Investors Look?

With two very different ETFs launching on the same morning, investors are weighing their choices. GDOG appeals to those who want a regulated way to ride the Dogecoin narrative, while GXRP attracts traders who expect institutional demand to lift XRP’s long-term value.

Both launches mark a new phase for crypto in traditional finance, and tomorrow’s market reaction will reveal which asset captures the stronger wave of interest.

Related: XRP Shows Signs of Recovery as ETFs and Buy Signals Strengthen Outlook