Key Insights
- XRP’s first U.S. spot ETF (XRPC) launched on Nasdaq, marking a major step toward mainstream adoption.
- Grayscale listed XRP and Dogecoin ETFs on DTCC, signaling growing interest in altcoin-based investment products.
- Analysts expect billions of dollars in institutional inflows, with XRP potentially reaching $5 if all 11 ETF applications are approved.
The cryptocurrency market is seeing major changes. XRP and Dogecoin are now part of the growing ETF trend. These developments could bring more attention and investment to the crypto space.
XRP Spot ETF Listed on Nasdaq
The first U.S. Spot XRP exchange-traded fund (ETF), trading under the ticker XRPC, officially launched on Nasdaq on November 13. Sponsored by Canary Capital Group LLC, the ETF received final approval from the SEC on November 12.
This milestone follows Ripple’s 2024 settlement with the SEC and marks a major step for XRP’s mainstream adoption. With the launch of its dedicated website, the XRPC fund becomes the first XRP Spot ETF under the 1933 Securities Act.
A Spot ETF aims to mirror the market price of the asset it holds. In the case of the XRP Spot ETF, the fund will track the market price of XRP.
This XRP ETF is the sixth crypto spot ETF trading in US markets, the other ETFs track Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Hedera (HBAR).
The ETF holds XRP directly and charges a 0.5% annual management fee. Coinbase provides custody services. Investors can buy shares of the ETF through regular brokerage accounts. This removes the need for crypto wallets and makes access easier.
Experts say ETFs can boost liquidity by 15–20%. Bitwise’s Solana ETF (BSOL) saw $56 million in volume on its first day. XRP’s market cap was $35 billion at press time, so similar interest in its ETF is possible.
Glassnode reported that 216 million XRP recently left exchanges. This may reduce selling pressure and support price stability. The potential liquidity injection through the ETF could contribute to the stability.
Grayscale Adds XRP ETF and DOGE to DTCC Registry
Grayscale has listed its XRP and Dogecoin ETFs on the Depository Trust & Clearing Corporation (DTCC) registry. DTCC handles ETF settlements, and listings show readiness for launch. However, SEC approval is still required before trading can begin.
Grayscale’s XRP Trust holds $14 million in assets. It plans to convert this trust into a spot ETF. The Dogecoin Trust was launched in January 2025. It supports the push for a Dogecoin ETF.
Grayscale also offers the CoinDesk Crypto 5 ETF, which includes multiple altcoins. Eleven XRP ETF applications are now listed on DTCC. This shows strong momentum in the ETF space.
Institutional Momentum and Altcoin ETF Outlook
The launch of XRPC could attract large institutional investments to the altcoin market. Analysts expect billions of dollars to flow into XRP. The SEC’s approval and the subsequent Nasdaq listing could serve as signals of growing institutional interest in altcoins. 11 more ETFs are yet to be approved by the US securities regulator.
Some experts believe XRP could reach $5 or more if all 11 ETFs launch. However, early gains may lead to profit-taking. Dogecoin’s ETF potential is likely being assessed by market analysts. CleanCore holds 600 million DOGE, reflecting strong institutional interest. However, no launch dates for DOGE Spot ETFs were announced as of writing this report.
Note that DTCC listings do not guarantee approval. Delays may happen due to regulations, regulator correspondence, or market conditions.
Bitcoin and Ethereum ETFs flows have shown mixed signals in the recent past. However, Eric Balchunas recently pointed out that though the (outflows) were significant per se, the cumulative net flows were relatively stable for crypto Spot ETFs.
More ETF filings are expected soon. Bitwise and Franklin Templeton may submit new applications. These could shape the future of altcoin ETFs.
What it Means for Crypto
These developments mark a turning point for XRP, Dogecoin, and other altcoins besides Ethereum. The XRPC ETF launch is a major step toward mainstream adoption. Grayscale’s listings suggest more altcoin ETFs could follow.
Investors should watch out for regulatory updates. XRP’s $35 billion market cap and DOGE’s growing interest show strong potential. But competition from multiple XRP ETFs could affect individual fund performance.
As of now, the XRPC ETF is live on Nasdaq. Real-time data will show its impact soon.
Grayscale’s plans may lead to more altcoin ETFs by late 2025, depending on SEC decisions.
The crypto market is evolving rapidly, and a major part of this evolution is the integration with traditional finance. XRP and Dogecoin are moving closer to traditional finance.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
 launched on Nasdaq; Grayscale’s XRP and DOGE ETFs listed on DTCC, signaling rising institutional interest in altcoins.){kind=link}