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<p>Grayscale ETF portfolio just added two new products: the DOGE and XRP ETFs went live following NYSE Arca approval. The products, known as Grayscale Dogecoin Trust ETF (GDOG) and Grayscale XRP Trust ETF (GXRP), are the result of Grayscale converting its private funds to full-fledged Grayscale Crypto ETFs, widening their reach.</p><p>Grayscale wants to capitalize on the recent demand for altcoin ETFs and expand their customer base, of course. But the launches didn't exactly go as planned. And while the rationale behind the selection has weight, the products are not devoid of complications.</p><p><em>So, what exactly happened?</em></p><p>In this blog, we’ll discuss just that: what Grayscale’s competitors are doing, what the reasoning behind these products is, future challenges, and much more!</p><h2 id="a-quick-overview-of-grayscale">A Quick Overview Of Grayscale</h2><p>Grayscale Investments is an LLC founded in October 2013 as a subsidiary of Digital Currency Group. It provides the following types of products:</p><ul><li>Primarily, it offers <strong>ETPs/ETFs</strong> for various cryptocurrencies, including Bitcoin.</li><li>It also offers <strong>private trusts</strong>, both single-asset and diversified.</li><li>Similarly, it provides <strong>publicly traded funds</strong>, both single-asset and diversified.</li><li>Lastly, it also offers <strong>GDIF</strong> (Grayscale Dynamic Income Fund), which provides periodic rewards from staking, open only to accredited investors.</li></ul><p>In addition to the above investment vehicles, it provides research support through commentary on relevant markets, reports, token design documents, and webinars for investors.</p><h2 id="gdog-and-gxrp-their-debuts-in-numbers">GDOG And GXRP: Their Debuts In Numbers</h2><h3 id="grayscale-dogecoin-trust-etf-gdog">Grayscale Dogecoin Trust ETF (GDOG)</h3><p>Out of both Grayscale crypto ETFs, GDOG witnessed an underwhelming start, as its $1.4 million debut trading value was very short of the analysts’ prediction of around $12 million. And it only reached $1.8 million the next day, despite the Dogecoin market capitalization being $22 billion.&nbsp;</p><h3 id="grayscale-xrp-trust-etf-gxrp">Grayscale XRP Trust ETF (GXRP)</h3><p>As for the XRP ETF, Grayscale saw a moderately successful launch. After being converted from an XRP Trust, the XRP ETF began with $11.67M worth of starting assets, and the previously charged 0.35% fee was waived for the initial three months. Then, on its launch day, it brought in $67.4 million in net inflows. Its debut, together with Franklin Templeton’s XRPZ, was the largest 2025 ETF debut though, with total net inflows of $129.9 million.</p><h2 id="doge-and-xrp-etfs-the-reasoning">DOGE and XRP ETFs: The Reasoning</h2><ul><li><strong>Ease of access mechanism:</strong> Products like the Dogecoin ETF or the XRP ETF increase security and ease of access for investors. You don't need a crypto wallet for purchases, are regulated by the SEC and provide professional custodial services.</li><li><strong>Liquidity and tradeability:</strong> Trading on NYSE Arca, via its electronic MMs, is conducted at extremely high daily volumes.&nbsp;</li><li><strong>Rise in altcoin market demand:</strong> The rising demand for high market-cap altcoin funds, fuelled by the SEC’s relaxation of norms for crypto funds.</li><li><strong>Appeal to retail investors:</strong> These spot crypto ETFs also open the door for small retail investors. Usually, trusts and private funds are open only to accredited investors, but ETFs with these features allow others to invest.</li></ul><h2 id="doge-and-xrp-etfs-the-competitive-landscape">DOGE And XRP ETFs: The Competitive Landscape</h2><p>While these ETFs do show the company’s quick response to market conditions, they arent devoid of competitors. Take for example:</p><p><strong>Grayscale Dogecoin Trust ETF (GDOG):</strong> The main competitor for GDOG is Bitwise’s Dogecoin ETF, known by its ticker BWOW. It started trading on the New York Stock Exchange on November 26, 2025. It charges a 0.34% fee, which was waived for the first month, and as of December 4, 2025 has ‪$‪2.39  million AUM.</p><p><strong>Grayscale XRP Trust ETF (GXRP): </strong>For GXRP, there are direct alternatives from different investment firms. Franklin Templeton’s XRPZ, Canary Capital’s XRPC and Bitwise’s XRP ETF, form the major competitors for the GXRP fund. On their debut, all four funds, combined, brought in $164 million in total inflows.&nbsp;</p><h2 id="potential-future-challenges">Potential Future Challenges</h2><ul><li><strong>Stiff market competition:</strong> With similar products from the likes of Franklin Templeton and Bitwise, the trajectory of Grayscale crypto ETFs won't be smooth. Especially if the market’s capitalization itself starts to shrink.</li><li><strong>Asset-specific issues</strong>: With the Dogecoin ETF, there are concerns on the long-term viability of memecoin industry. As for XRP ETFs, long-term volatility concerns persist regarding Ripple products.</li><li><strong>Regulatory concerns</strong>: While the recent SEC relaxation is a positive move, given the volatile nature of the underlying assets, there are understandable concerns about the legal framework for such funds in the future.</li></ul><h2 id="the-bottom-line">The Bottom Line</h2><p>Frankly, the Grayscale ETFs are a strong move by the investment firm to capitalize on the recent surge in demand for such altcoins and regulatory relaxations by the SEC. And while there is a solid rationale for selecting these particular ETFs, there is also stiff competition from rivals and potential future complications and roadblocks. You'd want to make an informed decision before investing here.</p><p>At <a href="http://www.delta.exchange"><u>Delta Exchange</u></a>, we keep you informed about developments like this, helping you track key innovations and trends in the crypto space.</p>

DOGE and XRP just got added to the Grayscale ETF portfolio. See what all happened and everything there is to know.

Grayscale ETFs: DOGE and XRP Go Live