Grayscale Launches DOGE ETF Today: $11M First-Day Trading Forecast
Grayscales Dogecoin ETF is finally making its debut on the New York Stock Exchange today, after the exchange gave it the green light...
Quick overview
- Grayscale's Dogecoin ETF has officially launched on the New York Stock Exchange, allowing investors to access DOGE without managing digital wallets.
- Analyst Eric Balchunas predicted the launch timing accurately, noting that the ETF met all necessary approval criteria.
- Grayscale is also launching its XRP spot ETF simultaneously, reflecting growing interest in regulated crypto investment products.
- The trend indicates a strong demand for safer, regulated ways to invest in cryptocurrencies, with more ETFs expected to enter the market soon.
Grayscales Dogecoin ETF is finally making its debut on the New York Stock Exchange today, after the exchange gave it the green light just last Friday. This means Grayscale’s existing Dogecoin trust is now officially an exchange-traded product, allowing investors to access DOGE without managing their own digital wallets.
Bloomberg analyst Eric Balchunas made a pretty accurate prediction on when this would happen based on the SEC filings and NYSE comings and goings. His hunch is confirmed by documents the NYSE has released showing this ETF had ticked all the boxes needed to be approved.
The GDOG fund is expected to kick off with a bang, with Balchunas tipping first-day trading of around $11 million, based on his observations of recently launched crypto ETFs.
$DOGE is stepping deeper into the mainstream! 🚀
Grayscale has officially confirmed the launch date of its DOGE spot ETF (GDOG), set to debut on Nov 24, 2025 on NYSE Arca. A huge milestone as meme-culture meets institutional finance. #Dogecoin #GDOG pic.twitter.com/2iAOz48kpX— LEXY BERRY# (@akandeolamilek7) November 24, 2025
XRP ETF Joins the Party
Grayscale is launching its XRP spot ETF (GXRP) at the same time, joining the growing tide of new crypto products hitting the market. This comes on the back of last week’s bit of action from Bitwise with their XRP ETF, which traded pretty heavily almost straight away, knocking up around $22 million in just a few hours. Analyst James Seyffart has noted that a significant portion of this trading occurred in the first half of the session.
There’s been a lot of interest in XRP-based ETFs in the market recently:
- Canary Capital’s XRPC ETF raked in over $250 million in Day 1 trading.
- Other firms, such as 21Shares and CoinShares, are preparing to launch their own XRP products.
All of this shows just how much investors want a regulated way to invest in crypto, and how much trading activity could be in this sector.
Whats On The Cards For Crypto ETFs
GrayScale’s move is part of a broader effort to bring digital assets into the mainstream through traditional financial channels. Next up is their Chainlink ETF ($GLNK), which is expected to launch next week, and they are clearly looking to branch out and offer a wide range of cryptocurrencies.
NYSE has officially approved Grayscale’s $DOGE ( $GDOG) and $XRP ($GXRP) spot ETFs — both launching TODAY.
Bloomberg’s @EricBalchunas says $LINK ($GLNK) is up next, likely next week.
The DOGE ETF is a trust conversion, with expected day-one volume around $11M. pic.twitter.com/mN1aMg4mwq
— CryptoPotato Official (@Crypto_Potato) November 24, 2025
Other asset managers are also getting ready to launch their own ETFs:
- The 21 Shares DOGE ETF is awaiting SEC approval and could potentially list on Nasdaq soon.
- Grayscales approach is showing that there is a clear preference among investors for ETFs that offer a much safer, regulated way to get in on meme coins and altcoins.
For investors, this all adds up to a pretty convenient and regulated way to get exposure to high-profile cryptocurrencies as the market looks set for increased institutional adoption.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save