Grayscale Expands SUI Access With GSUI Charging Into Public Markets

The New York Stock Exchange (NYSE) has approved the listing of Grayscale's XRP and Dogecoin exchange-traded funds (ETFs), with trading set to commence on Monday. This development is anticipated to enhance mainstream adoption of cryptocurrencies and may influence future regulatory frameworks.

Grayscale is set to launch its DOGE and XRP exchange-traded funds (ETFs) on the New York Stock Exchange (NYSE) on Monday. This move follows the recent launch of Bitwise's XRP ETF, which has already garnered significant attention in the cryptocurrency market. The introduction of these ETFs marks a notable expansion in Grayscale's offerings and reflects the growing interest in cryptocurrency investment products.

U.S. Bitcoin spot exchange-traded funds (ETFs) experienced a significant net outflow of $903 million on November 20, marking the second-largest outflow since their inception in January 2024. This decline is largely attributed to major withdrawals from BlackRock and Grayscale, reflecting growing investor caution amid market volatility.

The XRP price has become a focal point in the cryptocurrency market as it continues to gain traction through ecosystem growth and market interest. Despite this momentum, XRP's valuation remains significantly lower than Bitcoin's, which currently has a market capitalization of approximately $1.84 trillion. This disparity raises the question of how high XRP's price would need to rise to surpass Bitcoin.

Bitcoin ETFs experienced a significant inflow of $75 million, primarily driven by BlackRock and Grayscale, reversing a trend of five consecutive days of outflows. This resurgence indicates renewed institutional interest in Bitcoin as market conditions fluctuate.

Dogecoin's net position change and MFI profile are showing signs of renewed demand for meme coins, indicating potential accumulation. This trend is further supported by the upcoming launch of Grayscale's ETF tracking Dogecoin, expected to begin trading next week. Alongside Dogecoin, several new meme coins are also gaining attention in the cryptocurrency market.

An XRP analyst has projected that spot ETFs could rapidly consume available tokens if significant inflows continue. The model suggests that a single XRP ETF could see daily inflows averaging $90 million, leading to a potential demand for over 229 million XRP in just one day. This scenario raises concerns about the limited public supply of XRP amidst increasing ETF interest.