#What Are the Key Details About Grayscale's New ETFs?
Grayscale's XRP Trust ETF and Dogecoin Trust ETF are set to launch on NYSE Arca next Monday, marking a significant step for the firm in the expanding cryptocurrency market. Both products are expected to charge a management fee of 0.35%, similar to Grayscale's previously launched Bitcoin and Ethereum ETFs.
The NYSE Arca has officially approved these listings, with certification letters issued on November 21. Bloomberg’s ETF analyst has confirmed that trading will commence next week. Grayscale, which manages more than $35 billion in assets for its clients, originally introduced its XRP trust in the United States last September. Following favorable developments in the market, the company applied to the SEC to convert this trust into an ETF, leveraging the momentum gained from its Bitcoin and Ethereum offerings.
Grayscale aims to bolster its presence in the cryptocurrency investment landscape. Additionally, the company is exploring the possibility of going public in the United States. It has filed for an IPO to list its Class A shares on the NYSE, intending to capitalize on the growing interest and investment opportunities in crypto-related public offerings.
In summary, the introduction of XRP and Dogecoin ETFs will broaden Grayscale's portfolio and provide more opportunities for retail investors looking to engage with these prominent cryptocurrencies.