Altcoin Season Index

The race to bring Cardano (ADA) into the exchange-traded fund (ETF) spotlight may be nearing its most pivotal moment yet. Cardano Foundation CEO Frederik Gregaard has signaled that U.S. regulators could deliver clarity on an ADA-based ETF within “about 30 days” — marking the first time the project’s leadership has publicly offered a timeline. With major asset managers already filing for ADA investment vehicles and institutional interest climbing, momentum appears to be building fast. If approved, an ADA ETF would follow Bitcoin and Ethereum into the regulated investment arena, unlocking a gateway to traditional capital. This countdown comes as ADA continues to solidify its position in the crypto landscape. While U.S. regulators remain gridlocked, Cardano-backed ETPs are already trading in Europe and Asia — giving investors a regulated on-ramp abroad. At the same time, Cardano’s ecosystem is gaining traction among enterprises and developers, fueling renewed optimism about ADA’s long-term value proposition. With regulatory frameworks evolving and market demand rising, the stage is set for what could be the next major altcoin ETF listing. Read more: First Bitcoin, Then Ethereum… Is Cardano Next in the ETF Lineup? When Will the Cardano ETF Be Approved? Foundation CEO Shares Timeline In a recent interview with Thinking Crypto, Frederik Gregaard, CEO of the Cardano Foundation, broke new ground by offering a clear and confident timeline for ADA’s long-awaited debut in the ETF arena. According to Gregaard, several major asset managers have already filed for Cardano-based ETPs — fully collateralized, non-derivative products that trade like ETFs on traditional exchanges. More significantly, he believes that once U.S. regulators return to full operational capacity, “clarity around ADA ETFs” could arrive within just 30 days. This statement marks a notable shift in tone for the Cardano Foundation, which has historically avoided speculative forecasting. Gregaard emphasized that these filings represent true spot-backed instruments, distinguishing them from leveraged or futures-based alternatives. “These ETPs are entirely collateralized and trade like ETFs on exchanges,” he said, underlining the regulatory-grade structure of the proposed products. While the SEC’s recent stall has put a temporary freeze on ETF approvals, Cardano’s leadership seems convinced that a green light could come sooner than most expect. What’s Delaying the Cardano ETF? A Look at the Regulatory Roadblocks Despite mounting interest in ADA-based ETFs, regulatory bottlenecks in the U.S. remain the primary obstacle. The Securities and Exchange Commission (SEC) has already approved spot ETFs for Bitcoin and Ethereum, creating a framework for other digital asset funds — but approvals for altcoins like Cardano have yet to materialize. One key reason is the disruption caused by the U.S. government shutdown in October 2025, which effectively froze ETF application reviews. The SEC operated with only around 9% of its staff during that period, focusing solely on critical market monitoring. That meant dozens of crypto ETF filings — including Cardano’s — were left in limbo, with deadlines suspended and no feedback issued. Even as regulators return to full staffing, the backlog remains heavy. Analysts estimate there are just a handful of effective working weeks left in the year to address pending applications. While some issuers have tried to push products forward via procedural loopholes, most altcoin ETFs — including ADA — are still awaiting formal review. Any indication from the SEC on whether ADA qualifies as a non-security asset will be crucial, as it could either fast-track or freeze approval. How Is the Market Reacting? Whale Moves, Price Trends, and ETF Anticipation Cardano (ADA) Price Source: CoinMarketCap As speculation around a potential Cardano ETF intensifies, the market has already begun to show signs of anticipation. Large ADA holders — often referred to as “whales” — have been notably active. On-chain data from October and November 2025 indicates that whales accumulated over $200 million worth of ADA, even as ETF approvals remained frozen. This suggests growing confidence in ADA’s medium-term outlook, particularly among institutional-sized investors. ADA’s price performance has also reflected pockets of bullish sentiment. Although the token faced downward pressure during the SEC shutdown, brief ETF-related announcements have triggered sharp — albeit temporary — surges. Notably, when Grayscale first revealed plans for a Cardano Trust earlier in 2025, ADA rallied over 10% in 24 hours, outpacing Bitcoin and Ethereum during the same window. Beyond price action, the growing interest in regulated ADA investment vehicles highlights a broader demand shift. Institutions are increasingly looking for compliant exposure to altcoins without having to manage self-custody or liquidity risk. With ADA ETPs already trading in Europe and Asia, U.S. investors — and the issuers serving them — are pushing for parity. Should the SEC move forward on approval, analysts expect a significant influx of capital from traditional funds that have so far sat on the sidelines. Are ADA ETFs Already Trading Elsewhere? Global Markets Say Yes While the U.S. awaits regulatory movement, other regions have already paved the way for institutional exposure to Cardano. Europe and parts of Asia have approved ADA-backed exchange-traded products (ETPs), which function similarly to ETFs but are often governed by different securities laws. These products offer fully collateralized, publicly listed ADA exposure — and they’re already attracting capital. According to Cardano Foundation CEO Frederik Gregaard, the existence of these international ETPs strengthens the case for a U.S.-based fund. “Europe and Asia have already embraced ADA ETPs,” he stated, pointing to the growing demand among overseas institutions. The message is clear: Cardano has already passed regulatory scrutiny in multiple jurisdictions, and global investors are using these tools to access ADA without touching a crypto wallet. For the U.S., this creates pressure to close the accessibility gap. With compliant products already available abroad, American institutions are at risk of falling behind — both in terms of exposure and competitive positioning. From a regulatory standpoint, the success of these international products could serve as a reference model for U.S. approvals, reinforcing that ADA-based funds can be launched safely, transparently, and within the bounds of investor protection frameworks. What Comes Next? Catalysts, Timelines, and Risks to Watch With Cardano Foundation leadership offering a 30-day window for potential ETF clarity, all eyes are now on the U.S. Securities and Exchange Commission. If regulators resume full operations by early November, the ADA ETF decision could land before year’s end. Grayscale’s Cardano Trust (GADA), for example, has an SEC review deadline already in place, while other issuers like Tuttle Capital have filed leveraged ADA products aiming for late 2025 launches. The biggest near-term catalyst is regulatory action — or inaction. If the SEC offers no objection within the procedural window, some funds could launch by default. However, if ADA is flagged as a security, it could delay or derail approval altogether. For now, the Foundation’s tone is optimistic, suggesting confidence that ADA meets the SEC’s evolving ETF criteria. For investors, the path forward is becoming clearer. A U.S.-listed ADA ETF wouldn’t just validate Cardano’s regulatory profile — it could mark a new era of institutional access, liquidity, and legitimacy for one of crypto’s most ambitious layer-1 networks. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Dogecoin has officially entered Wall Street. On November 24, 2025, Grayscale’s long-awaited Dogecoin ETF, trading under the ticker GDOG, launched on NYSE Arca. The product gives traditional investors exposure to the original meme coin through a fully regulated vehicle, bypassing the need for wallets, private keys or direct crypto ownership. With regulatory approval locked in, DOGE now stands alongside Bitcoin and Ethereum in the expanding landscape of spot crypto ETFs. The debut arrives amid growing appetite for regulated access to digital assets. Ahead of the launch, Dogecoin saw a noticeable uptick in price and a 30% surge in futures trading volume, reflecting rising interest from both institutional and retail participants. Whether GDOG will deliver sustained inflows or serve as a short-term speculative flashpoint remains to be seen. But for now, Dogecoin has crossed over from internet culture to the trading floor. What Is the Dogecoin ETF (GDOG)? The Dogecoin ETF, trading under the ticker GDOG, is a spot exchange-traded fund launched by Grayscale that is designed to give investors direct exposure to the price of Dogecoin. As a spot ETF, it holds actual DOGE tokens in custody rather than using derivatives or synthetic products. This allows the fund’s share price to closely follow the market value of Dogecoin itself. For investors, GDOG offers a simplified and regulated way to participate in the Dogecoin market. Instead of using crypto exchanges or managing digital wallets, investors can buy or sell shares of GDOG through a traditional brokerage account. This structure is particularly useful for institutions, retirement accounts, and individuals who want to gain access to crypto without handling the underlying assets directly. It also brings Dogecoin into the same investment framework as other approved crypto ETFs, such as those for Bitcoin and Ethereum. Is the Dogecoin ETF Approved? Everything to Know About GDOG’s NYSE Listing Yes, the Dogecoin ETF is officially approved. On November 24, 2025, Grayscale’s Dogecoin ETF, trading under the ticker GDOG, launched on NYSE Arca following final regulatory clearance. The approval came after the exchange filed its certification with the U.S. Securities and Exchange Commission, confirming that all listing requirements had been met. This made GDOG the first U.S.-listed spot ETF tied directly to Dogecoin. The listing represents a significant step forward for altcoin-based investment products in the United States. GDOG joins a new class of crypto ETFs that are gaining traction under a more open regulatory approach. Grayscale’s launch comes alongside its XRP ETF, highlighting a coordinated move to bring more digital assets into the traditional investment framework. The structure mirrors Grayscale’s earlier Bitcoin and Ethereum ETF conversions, providing investors with a regulated, stock-market-based vehicle to gain exposure to DOGE without handling the asset directly. Where to Buy the Dogecoin ETF? GDOG Launch Details for Investors Grayscale’s Dogecoin ETF officially began trading on November 24, 2025, bringing the popular memecoin into the world of regulated financial products. Listed on NYSE Arca under the ticker GDOG, the fund allows investors to gain exposure to Dogecoin through standard brokerage platforms, removing the need to interact with crypto exchanges or manage private keys. Here are the key details investors should know: Ticker Symbol: GDOG Exchange: NYSE Arca Launch Date: November 24, 2025 ETF Type: Spot ETF, backed by actual Dogecoin held in custody Regulatory Status: Registered under the Securities Act of 1933 Management Fee: 0.35% annually Access: Available through traditional brokerage accounts, including retirement plans Trading Expectations: Bloomberg analysts estimated $10–12 million in first-day volume, reflecting strong investor interest GDOG’s launch reflects growing demand for simple, compliant access to digital assets, and positions Dogecoin alongside Bitcoin and Ethereum in the evolving ecosystem of regulated crypto investment vehicles. DOGE Price and Futures Volume Surge Ahead of GDOG Listing Dogecoin (DOGE) Price Source: CoinMarketCap Dogecoin’s price responded quickly in the lead-up to GDOG’s launch. In the hours before the ETF began trading, DOGE climbed to around $0.145, posting a roughly 3% gain on the day. While the move was modest in absolute terms, it stood out in a broader market where Bitcoin and Ethereum remained relatively flat. The uptick reflected growing anticipation among traders that a spot ETF could attract fresh inflows and validate Dogecoin as a legitimate investment asset. Futures markets echoed the sentiment. According to derivatives data platforms, DOGE futures trading volume surged by over 30% in the days before the listing. This sharp increase in speculative activity suggested that traders were positioning ahead of the launch, either to benefit from potential short-term upside or to hedge exposure around the event. Analysts noted that DOGE outperformed several large-cap tokens on the day GDOG went live, adding fuel to the view that the ETF had triggered a burst of renewed attention. What's Next for the Dogecoin ETF? With GDOG now live on NYSE Arca, the next phase will depend on how the market receives it. Early trading volume, investor inflows, and price tracking performance will all serve as key indicators of the ETF’s traction. Analysts will be closely watching whether the fund attracts sustained demand beyond its debut, particularly from institutional players and long-term holders. The launch of GDOG could also spark broader interest in altcoin-based ETFs. If Dogecoin’s ETF proves successful in drawing capital and maintaining healthy liquidity, it may set a precedent for other meme or community-driven tokens to seek similar regulated investment vehicles. Additionally, Grayscale and other asset managers may expand their offerings to include a wider range of altcoins. For Dogecoin, GDOG brings new visibility, but long-term growth will still depend on adoption, developer activity, and real-world use cases—not just ticker presence on a stock exchange. Conclusion The launch of GDOG on NYSE Arca signals a new chapter in Dogecoin’s evolution. What began as a lighthearted internet meme now trades on one of the world’s most established financial platforms. With Grayscale’s ETF offering direct, regulated access to DOGE, the asset once dismissed as a joke has secured its place in the growing ecosystem of institutional crypto products. Whether GDOG becomes a long-term success story or simply captures a moment in market sentiment will depend on how investors respond in the weeks ahead. But its arrival sends a clear message. Crypto’s cultural icons are entering the mainstream, and Wall Street is watching. For Dogecoin, the ETF listing is not the end of the meme—it’s a new beginning. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

In November 2025, the cryptocurrency market is under pressure, with Bitcoin struggling and posting noticeable losses. However, against this bearish backdrop, XRP price stands out as comparatively robust. While Bitcoin’s sustained downtrend has weighed on the sentiments of many digital assets, XRP price has gained 1.4% over the last week. This divergence is catching the attention of investors looking for altcoins capable of outperforming the broader market during times of uncertainty. A combination of factors is fueling optimism for XRP price. This article will examine why XRP price is outperforming under current market conditions by analyzing whale accumulation trends, diminishing selling pressure, historic on-chain indicators, the upcoming lineup of XRP ETFs, and key technical signals. Source: CoinMarketCap Exchange Reserves Plunge as Whales Accumulate One of the most important on-chain signals driving the positive outlook for XRP price is the drastic reduction in XRP held on major centralized exchanges. According to data from XRPWallets, some major centralized cryptocurrency exchanges’ reserve of XRP has plummeted by 90%. The platform now sits at just 14.85 million XRP—about $44.6 million in value. This dramatic outflow is a clear sign that large institutional holders and whales are moving their XRP to private wallets. Source: Glassnode Such strategic moves off exchanges strongly suggest that whales anticipate future gains, possibly timed with major catalysts like ETF launches. Historically, when the supply of a cryptocurrency dwindles on exchanges, it sets the stage for sharp volatility and upward movement if demand resurfaces. For XRP price, this means limited sell pressure remains, and any renewal in buyer enthusiasm could cause a swift rally from current levels. Dormancy Flow and Historical Reversal Signals for XRP Price Technical analysts are also closely watching XRP’s Dormancy Flow, a unique on-chain metric that measures how long coins remain untouched before being moved. This indicator recently plunged to historically low levels. In previous cycles, such scenarios marked the bottom of bearish periods and preceded significant upside for XRP price. To give context, a similar dip in Dormancy Flow was a prelude to XRP’s monumental surge in early 2017. The trend repeated between late 2020 and early 2021, when despite broader market fear, XRP price staged an impressive recovery. Even in the aftermath of the regulatory events in mid-2023, a Dormancy Flow drop aligned with a sharp, brief upward move. Now, with Dormancy Flow reaching new lows, it’s clear that long-term XRP holders—sometimes referred to as “smart money”—are maintaining their positions rather than selling into the weakness. This lock-up signals a phase of accumulation, which historically is a strong precursor for major reversals and rallies in XRP price. Diminishing Selling Pressure and Changing Holder Behavior Supporting the bullish case for XRP price is the ongoing reduction in selling pressure from long-term holders. On-chain data reveals that, at the start of November, the top 1% of wallets held approximately 87.729% of all XRP in circulation. By mid-November, that ratio slid marginally to 87.714%, reflecting minimal net selling. Of even greater significance is the reduction in actual selling volume. In early November, large holders released over 282 million XRP to the market on a weekly basis. By mid-month, this figure fell sharply to about 63 million—a dramatic 78% drop according to The Coin Republic. This kind of decline in selling often means that the capitulation phase is ending, less XRP is being offered for sale, and the groundwork is set for a possible price rebound. Additionally, the slowing sales from key wallets further tighten XRP’s available supply, increasing the likelihood that any positive catalyst—such as an ETF launch or overall market improvement—could have an exaggerated effect on xrp price. ETF Launches Shape Trading Outlook for XRP Price One of the clearest drivers on the horizon for XRP price comes from the pending launch of several XRP-focused exchange-traded funds. The ETF rollout began with Canary Capital’s window opening on November 13. Franklin Templeton started its launch window from November 14 to 18, followed by 21Shares’ timeline between November 20 and 22. These ETF events are watched closely by the market, as they consistently bring greater attention and additional trading volume both before and after listing. For XRP price, the anticipation of institutional demand—and new capital flows—raises expectations for volatility and possible upside. If previous ETF launches in other crypto assets are any guide, XRP price could benefit from a period of increased buying interest as these products go live. Technical Analysis: Chart Signals Suggest a Short Bounce May Be Imminent Chart analysis underscores a potential for upward movement in XRP price. Between November 9 and 16, XRP’s spot price marked a new short-term low, but the Relative Strength Index (RSI) simultaneously carved out a higher low. This bullish divergence, where price momentum weakens on declines, frequently precedes rebounds in the short term. From a technical standpoint, key resistance levels for XRP price are $2.31 and $2.38. Should XRP price achieve a daily close above $2.31, a drive to test $2.38 could follow next. A move beyond $2.58 would significantly strengthen the bullish case, signaling a transition to a new upward phase. On the downside, renewed weakness dragging XRP price below $2.10 could result in a drop to the $1.87 support level. As it stands, current technical signals and underlying market structure give XRP a reasonable chance for a near-term bounce. Conclusion: Can XRP Price Outperform as Bitcoin Lags? The convergence of diminishing selling pressure, strategic whale accumulation, historic Dormancy Flow signals, and high-profile ETF launches uniquely positions XRP price for a potential rally—even as Bitcoin remains under intense selling pressure. The culmination of these factors indicates that the worst of the sell-off may be over for XRP, making it an altcoin to watch for renewed upside momentum. While the near-term outlook is encouraging, investors should carefully monitor XRP price as ETF events unfold and remain alert to broader shifts in crypto sentiment. Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.