Crypto Giant Grayscale Rolls Out New Spot XRP and Dogecoin Exchange-Traded Funds
XRP and Dogecoin ( DOGE ) jumped in price as the crypto investment giant Grayscale rolled out new spot exchange-traded funds (ETFs) for both assets on Monday.
Grayscale converted both new products , which are now available on the ETF and securities exchange NYSE Arca, from preexisting trusts.
The Dogecoin ETF , tickered GDOG, is the first pure spot DOGE exchange-traded fund available in the US. Multiple spot XRP ETFs have already launched this fall.
XRP is up more than 7% in the past 24 hours. The 4th-ranked crypto asset by market cap is trading at $2.20 at time of writing.
DOGE is up nearly 4.5% in the past day. The 10th-ranked crypto asset by market cap is trading at $0.152.
Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, notes that 5 spot crypto ETFs are rolling out over the next six days and many more are scheduled to launch in subsequent months.
“Beyond that, we don’t have exact [numbers], but we expect a steady supply of them (likely over 100 in the next six months). Nice chart showing what’s launched and what’s on deck from [Bloomberg Intelligence senior research analyst] James Seyffart.
Note: our 100 estimate includes ’40 Act stuff too, which includes 2x. Tons of spot, though. Land rush in effect, no matter how you define it.”
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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