Grayscale Launches Dogecoin and XRP ETFs on NYSE Arca as Crypto Exchange Listings Expand Globally

Grayscale ETFs Bring DOGE and XRP to Traditional Markets

NYSE Arca has approved the launch of Grayscale's Dogecoin (DOGE) and XRP exchange-traded funds, marking a significant expansion of cryptocurrency investment products available to traditional investors ^[2]. The approval brings full regulatory backing to these products and represents a notable milestone for meme coins and alternative cryptocurrencies entering mainstream financial markets.

Following the ETF approval, Dogecoin's price climbed 2.6%, trading at $0.146 ^[2]. The cryptocurrency has found temporary support around the $0.14 level after breaking below key moving averages earlier this month. The 50-day simple moving average sits at $0.184, while the 200-day stands at $0.208 ^[2].

On-Chain Data Shows Growing Investor Confidence

On-chain data for Dogecoin has revealed positive trends in the days leading up to the ETF launch. Analysts observed increased transaction activity and significant wallet movements, with more coins being transferred into long-term holding wallets ^[2]. This pattern suggests investors are positioning themselves for potential ETF-driven price action rather than seeking immediate profits.

The coordinated launch has also triggered heightened activity in derivatives markets, with both DOGE and XRP experiencing spikes in options and futures volumes ^[2]. Technical indicators show the coin is oversold, with the Relative Strength Index at 37, typically a level where new buying interest emerges ^[2].

Hong Kong Emerges as Crypto Hub Amid IPO Boom

While cryptocurrency products expand in traditional markets, Hong Kong is cementing its position as a global digital asset hub. The Hong Kong Stock Exchange raised 216 billion Hong Kong dollars ($27.8 billion) from IPOs in the first 10 months of 2025, representing a 209% increase from the same period last year ^[1].

Thailand's Bitkub exchange is reportedly considering a Hong Kong IPO, looking to capitalize on the city's favorable regulatory environment for crypto companies ^[1]. The potential listing would expand Hong Kong's efforts to attract non-Chinese companies amid the ongoing IPO boom.

Thai Market Volatility Drives Regional Expansion

Bitkub's interest in a Hong Kong listing comes as Thailand's equity market has emerged as one of Asia's most volatile in 2025. The Stock Exchange of Thailand (SET) index dropped 10% this year, falling to a five-year low in the first half of 2025 and becoming one of the worst-performing markets in Asia ^[1].

Foreign investors have continued selling Thai equities despite two consecutive months of stock market gains, with net selling positions totaling more than 100 billion Thai baht ($3 billion) in the first 10 months of 2025 ^[1]. This contrasts sharply with other Asian markets, where South Korea and Hong Kong saw robust gains of 27% and 20% respectively in the first half of 2025 ^[1].

Hong Kong has attracted numerous crypto companies, including Bitcoin Depot, the world's largest Bitcoin ATM operator ^[1]. The city's rapidly expanding digital asset market offers an alternative venue for crypto companies seeking public listings in a more stable regulatory environment.

Market Outlook

For Dogecoin, if the cryptocurrency maintains support above $0.14 and ETF volumes remain strong, analysts suggest the price could attempt to breach the $0.18–$0.20 resistance zone, potentially opening the path to $0.25 in coming weeks ^[2]. However, a loss of the $0.14 support level could trigger a sharper decline toward $0.10, where historical buying interest has previously emerged ^[2].

The MACD indicator remains slightly bearish, suggesting the possibility of continued sideways movement or support level retests if bullish volume fails to materialize ^[2].