Grayscale Pushes for XRP and Dogecoin ETFs as SEC Review Begins

Grayscale is making another push to expand its cryptocurrency ETF offerings, with fresh applications for funds tied to XRP and Dogecoin now on the U.S. Securities and Exchange Commission’s radar.

The SEC has officially acknowledged the proposals, setting the stage for a review process that could determine whether these products make it to market.

NYSE Arca, the exchange seeking to list these ETFs, filed the necessary paperwork last month, and with the SEC’s recognition, a 45-day evaluation period will begin once the filings appear in the Federal Register. A separate 21-day window for public comments has also opened, giving stakeholders a chance to weigh in before regulators make a decision.

The XRP-focused fund is particularly notable, given the ongoing legal battle between Ripple and the SEC over the asset’s classification. Approval is far from guaranteed, but some analysts, including Bloomberg’s James Seyffart, view the regulator’s engagement as a potential sign of softening resistance toward crypto investment vehicles. In the past, the SEC’s hesitation has led to the withdrawal of similar proposals, but this time, industry observers are watching closely for any shifts in policy.

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Grayscale’s XRP Trust currently manages $16.1 million in assets, while the Dogecoin Trust, introduced more recently, is also in line for ETF conversion. Both funds, if approved, would provide exposure to their respective cryptocurrencies without requiring direct ownership. Coinbase Custody Trust Company has been designated as the custodian for these assets, with BNY Mellon handling administrative tasks.

Beyond these two trusts, Grayscale is pursuing ETF status for several other digital assets, including Litecoin and Solana, while also seeking regulatory approval for a Cardano fund. Dogecoin, despite its origins as a joke cryptocurrency, remains a top contender in the market, with support from high-profile figures like Elon Musk. Meanwhile, XRP continues to rank among the most valuable digital assets, maintaining its position as a major player in the industry.

Kosta Gushterov