The U.S. market is seeing a surge of new exchange-traded funds (ETFs) focused on alternative cryptocurrencies, as major asset managers expand beyond Bitcoin and Ethereum.
Grayscale launched two new products on Monday: the Grayscale XRP Spot ETF (GXRP) and the Grayscale Dogecoin ETF (GDOG) on NYSE Arca. Franklin Templeton also introduced the Franklin XRP Trust (XRPZ), while Bitwise plans to list its Dogecoin ETF (BWOW) on Wednesday. The developments were first reported by BlockBeats.
Grayscale’s GXRP tracks the price of XRP. The fund opened at $25 per share and gathered $150 million in assets within hours, showing strong demand from investors who prefer ETF exposure over holding crypto directly.
Franklin Templeton’s XRPZ opened at $28 and saw $80 million in trading volume on its first day. The launches helped lift XRP’s price by about 4%, bringing it to $0.65.
Grayscale’s GDOG became the first U.S. spot ETF for Dogecoin. It launched at $20 per share and drew $120 million in inflows by midday. Bitwise’s upcoming Dogecoin ETF aims to compete with lower fees and on-chain transparency features.
Analysts expect more altcoin ETFs soon. Bloomberg’s James Seyffart and Eric Balchunas say a Chainlink (LINK) spot ETF could launch this week, possibly from 21Shares or VanEck. They estimate that more than 100 crypto ETFs may enter the market within six months, including funds for Solana, Avalanche, and Polkadot. Total assets in altcoin ETFs could reach $50 billion by mid-2026, they said.
The ETF launches come as Bitcoin trades near $95,000 and Ethereum approaches $3,000, with spot ETF inflows reaching $2.5 billion this year. However, analysts caution that coins like Dogecoin and XRP still face high volatility and regulatory uncertainty.
The wave of new products reflects growing institutional interest in digital assets and a faster approval environment from U.S. regulators.
