Surge in Spot Crypto ETFs
A new wave of spot cryptocurrency exchange traded funds is arriving this week as issuers move quickly to meet rising demand for regulated digital asset products. Bitwise is preparing to launch its Dogecoin ETF on November 26, adding momentum to one of the busiest periods for crypto funds since United States regulators first approved Bitcoin based products. This follows the debut of two altcoin ETFs scheduled for today, signaling how rapidly the market is expanding.
Grayscale Introduces First U.S. Spot Dogecoin ETF
Grayscale has converted its Dogecoin Trust into a spot Dogecoin ETF, which will trade under the ticker GDOG. At the same time, its XRP Trust has been converted into a spot ETF and will trade under the ticker GRXP. These conversions were approved by the New York Stock Exchange and mark a significant milestone. Grayscale confirmed that GDOG is the first spot Dogecoin ETF in the country. The fund charges a fee of 35 basis points, but this fee is waived to zero for the first one billion dollars in assets or for the initial three months.
Market Predictions and Expansion Timeline
The arrival of GDOG has drawn strong attention. Eric Balchunas of Bloomberg Intelligence projected twelve million dollars in trading volume on its first day and described the product as a milestone in Dogecoin’s evolution from a meme inspired token to a recognized financial asset. He also noted that five spot crypto ETFs are scheduled to launch between November 23 and November 26, with most shifting to Monday since November 23 fell on a Sunday. Balchunas further predicted that more than one hundred new crypto ETFs could launch by May 2026, reflecting intense competition among issuers. His estimate includes funds structured under the 1940 Act as well as leveraged products, though most new offerings are expected to be spot based.
Altcoin ETFs Gain Momentum Across U.S. Markets
The calendar of ETF launches highlights aggressive activity from firms such as Bitwise, Grayscale, VanEck, Fidelity, Franklin, and Canary. Assets including XRP, Dogecoin, Solana, HBAR, Litecoin, and Chainlink are among those gaining new ETF exposure. Analysts anticipate strong demand, with one expert forecasting nearly thirty million dollars in first day trading volume for the Franklin Templeton XRP ETF. This rapid expansion demonstrates how quickly the ETF market is broadening beyond Bitcoin and Ethereum. Investors are increasingly seeking diversified exposure, and this week’s launches may set the stage for a wider wave of adoption as more products gain liquidity and visibility across United States markets.
Frequently Asked Questions (FAQs)
- What is GDOG?
GDOG is the ticker for Grayscale’s newly converted spot Dogecoin ETF, the first of its kind in the United States.
- When will the Bitwise Dogecoin ETF launch?
Bitwise plans to launch its Dogecoin ETF on November 26, adding another major issuer to the growing DOGE market.
- How many new crypto ETFs are expected soon?
Analysts project that more than one hundred new crypto ETFs could launch by May 2026, with most expected to be spot based.
