Can Grayscale's ETF cause the prices of XRP and Dogecoin to rise?

With the launch of new ETFs for XRP and Dogecoin prepared by Grayscale, the market's focus is intensifying on these two assets. Following the official listing approval by NYSE Arca, Grayscale's XRP and Dogecoin Trust products will transition to ETF format and begin trading on Monday.

This development comes at a time when there has been a surge in cryptocurrency-focused ETF applications yielding results. According to the certificate provided by the exchange, Grayscale Bitcoin Trust ETF Shares and Grayscale Ethereum Trust ETF Shares will now be joined by Grayscale XRP Trust ETF Shares and Grayscale Dogecoin Trust ETF Shares transitioning to ETF status.

XRP remains the fourth-largest cryptocurrency by market capitalization, while Dogecoin stands out as the oldest and largest asset in the meme coin category. The market is expected to respond with significant interest to these two products. In particular, the increased interest in cryptocurrency ETFs in the U.S. has been accelerated by the SEC guidance, published immediately after the government's shutdown, which clarifies the procedures for companies to go public without additional permits.

In recent months, the approval of ETFs for many altcoins such as Litecoin, HBAR, XRP, and SOL has been positively received by market participants. These funds were approved by the SEC in September as they met certain listing standards. Grayscale's DOGE ETF will be the second Dogecoin fund to be launched in the U.S., with the first product released in September by REX Shares and Osprey Funds under the 1940 Investment Company Act.

Given Grayscale's wider user base and the current ETF traffic, the new Dogecoin product is expected to attract much higher trading volume. Therefore, investor expectations regarding whether XRP and Dogecoin prices will rise are increasing.