Starting this Monday, Grayscale’s spot ETFs on DOGE and XRP will make their debut on the NYSE Arca stock exchange. We take a look at this new development, which marks a new step in the integration of altcoins into traditional markets.
Grayscale’s DOGE and XRP ETFs arrive this Monday
Recently, the Securities and Exchange Commission (SEC) has been slowly approving the listing of new altcoin spot ETFs in the United States.
In this context, the NYSE Arca exchange filed a letter with the SEC on Friday, informing it of its approval for Grayscale’s Dogecoin (DOGE) ETF:
At the same time, NYSE Arca also published a similar letter about the Grayscale XRP Trust ETF. As a result, trading in these new spot ETFs is set to begin on Monday, as indicated by Bloomberg analyst Eric Balchunas, with a Chainlink LINK ETF expected to follow in a few days:
Grayscale’s Dogecoin ETF ($GDOG) has received approval for listing on the NYSE and is expected to begin trading on Monday. Its XRP ETF will also launch on Monday. The $GLNK ETF will follow soon, likely a week later.
While Bitwise and Canary’s XRP ETFs are already on the market, the launch of the DOGE ETF is unprecedented.
To date, Grayscale’s GDOG, GXRP, and GLNK claim $1.54 million, $11.67 million, and $15.75 million in assets under management, respectively. Holders of these shares will thus have the opportunity to exit their positions, and, in a context of cryptocurrency declines, investor behavior during the first days of trading will be particularly revealing of their state of mind.
At the same time, the price of DOGE and XRP stands at $0.146 and $2.07 respectively at the time of writing, up 2.3% and 1.8% over the last 24 hours.
