New Spot Crypto ETFs Launching Amid Rising Demand
- Bitwise will launch its Dogecoin ETF on November 26, following two altcoin funds debuting today.
- Grayscale’s DOGE fund has converted into the first U.S. spot Dogecoin ETF, trading under ticker GDOG with a fee of 35 basis points.
- The Grayscale XRP Trust will also convert to a spot ETF, trading under the ticker GRXP, following NYSE approval.
- Bloomberg’s Eric Balchunas predicts $12 million in first-day trading volume for GDOG and estimates over $30 million for the Franklin Templeton XRP ETF.
- More than 100 new crypto ETFs are expected to launch by May, reflecting increased competition among issuers.
This week marks a significant moment for Dogecoin as multiple spot ETFs enter the market, indicating strong investor interest in diversified digital asset exposure beyond Bitcoin and Ethereum.
The launch of Grayscale’s GDOG as the first U.S. spot Dogecoin ETF is notable, with predictions of substantial trading volume on its debut day. (Source)
