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Grayscale plans to offer new ETF products linked to Dogecoin and XRP on November 24 after receiving approval to list the two vehicles on the New York Stock Exchange.
The Grayscale Dogecoin Trust ETF (GDOG) is Grayscale
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Grayscale expands ETF portfolio with Dogecoin and XRP
The market will convert existing private funds into fully listed funds, in a move that represents a major liquidity event for existing investors.
GXRP will enter a market that already contains spot products from Canary Capital and Bitwise.
These funds attracted approximately $422 million in combined inflows during their first two weeks of trading, demonstrating early institutional interest in Association of XRP products.
On the other hand, GDOG will be one of the first Dogecoin ETFs Available to US investors.
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as well as Dogecoin, which was once a meme tokenbecoming the ninth largest cryptocurrency by market capitalization. The trend of deep nominal followers has made it one of the most traded and discussed digital assets, a trend that Grayscale expects to support demand for ETFs.
After that, Bloomberg Intelligence analyst Eric Balkunas said that the product could attract up to 11 million dollars in its first trading day.
The launch of GDOG and GXRP expands the mix of crypto ETFs available in the US market, expanding the industry beyond the Bitcoin and Ethereum products that dominated the first wave of approvals.
His arrival also reflects changing regulatory conditions in Washington.
The approvals are part of a broad acceleration in the surveillance of digital assets under the leadership of the Securities and Exchange Commission (SEC). Urine Atkins.
Since taking office, Atkins has steered the agency away from a ““Organization through Implementation” Towards a detection-focused framework.
Thanks to the initiative “Crypto Projectnoted that the Securities and Exchange Commission (SEC) has been opened to review compatible digital products, paving the way for issuers seeking to list new ETFs.
