Grayscale’s GXRP and GDOG Spot ETFs Begin Trading on NYSE Arca
Grayscale has launched spot ETFs for XRP and Dogecoin on NYSE Arca, expanding regulated access to these cryptocurrencies following GXRP’s conversion from a 2024 private placement.
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XRP
Summary
On September 24, Grayscale Investments announced the launch of its XRP Spot ETF (GXRP) and Dogecoin Spot ETF (GDOG) on NYSE Arca. GXRP is converted from a September 2024 private placement and offers direct exposure to XRP, a cryptocurrency often used in international remittances. GDOG provides direct exposure to Dogecoin. This marks Grayscale’s expansion into spot ETFs beyond Bitcoin and Ethereum, adding regulated options for investors seeking exposure to alternative cryptocurrencies.
Terms & Concepts
- GXRP Spot ETF: An exchange-traded fund by Grayscale providing direct exposure to XRP through holdings of the cryptocurrency.
- GDOG Spot ETF: A spot exchange-traded fund by Grayscale offering direct investment exposure to Dogecoin.
- Spot ETF: An exchange-traded fund that holds the underlying asset directly, providing exposure to its current market price rather than futures.