Grayscale Debuts XRP ETF Amid $365 Billion Crypto Market Growth

- Grayscale unveils public ETFs for XRP and Dogecoin on NYSE Arca. - Strategic move converts private trusts into accessible, regulated investment products. Grayscale Investments debuted its Grayscale XRP Trust ETF (GXRP) on November 24, 2025, on NYSE Arca. The ETF offers direct exposure to XRP, the fourth-largest cryptocurrency by market capitalization. Alongside this launch, Grayscale also introduced its first Dogecoin ETF (GDOG). This expansion brings more of the company’s cryptocurrency investment options into publicly traded offerings. Both ETFs transition from private placement trusts into regulated exchange-traded funds, which simplifies cryptocurrency investments for traditional investors. Specifically, the Grayscale XRP Trust directly holds XRP, a structure that allows investors to passively track its price movements without the operational complexities of custodial management. Coinbase Custody serves as the official custodian for the XRP assets that the trust holds. Amid rising institutional interest in digital assets, the launch signals a growing trend toward regulated financial vehicles for cryptocurrencies. Competitors like Canary Capital, REX Shares, and Franklin Templeton have entered the space to cater to the increasing demand for XRP-related products. Grayscale’s move from private funds to ETFs mirrors broader industry efforts to bridge the gap between crypto and traditional finance. Regulatory developments also play a significant role. On November 13, 2025, Grayscale filed a Form S-1 with the Securities and Exchange Commission (SEC). The company sought approval for public trading under the ticker "GRAY." These developments highlight the institutionalization of cryptocurrency-related investments within U.S. financial markets. On November 24, data from CoinMarketCap showed that as of 15:08 UTC, XRP was trading at $2.074, and its trading volume had increased by 1.657% over the past 24 hours.