Reports have disclosed that both ETFs received approval to be listed, and the paperwork was filed with the US Securities and Exchange Commission.
The move brings spot exposure to two smaller, but widely followed, cryptocurrencies into a mainstream vehicle. For many investors, that means access without directly managing wallets or private keys.
XRP derivatives surged as well, jumping about 51% to around $12.74 billion. Based on reports, these spikes reflect traders positioning for potential price swings around the ETF debut.
Spot ETFs do not promise higher prices, but they do change who can buy the assets. Brokers, retirement plans, and funds that avoid direct crypto custody may now step in.
That could affect liquidity in both the tokens and their markets. At the same time, the overall crypto market has seen pressure; reports say the launches come during a roughly six-week downturn.
Investors and analysts are likely to watch the first days of trading for clues. High volume and tight spreads would suggest strong demand. Low turnover or wide spreads could signal tepid interest.
Based on reports, market participants will also monitor whether the ETFs draw the same sort of speculative trading that has driven derivatives volume in recent days.
The listing of both GDOG and GXRP on the same date marks a notable step for mainstream crypto products. According to exchange filings, the funds are structured as spot ETFs that hold the underlying tokens via custodians. While that does not remove price risk, it does make buying these assets simpler for a broad group of investors.
Featured image from Gemini, chart from TradingView
