Grayscale’s Dogecoin Trust (GDOG) and XRP Trust (GXRP) ETFs are set to debut later Monday, with the underlying tokens on track for their worst months since February, alongside the rest of the crypto market. The CoinDesk 20 Index (CD20) has lost 23% since the beginning of November.
ETF flows for the month reflect the performance of the underlying assets. Spot bitcoin ETFs in the United States have seen net outflows of $3.55 billion since the start of the month. An additional sum could push that figure above February’s record $3.56 billion.
Bitcoin miner CleanSpark (CLSK) reports its fourth quarter financial results on Tuesday. Rival Riot Platforms (RIOT) posted unexpected profits and record revenues and Iren (IREN) reported record profits and revenues as it moves into artificial intelligence.
What to watch
- Cryptocurrency
- November 24: Monad public mainnet will launch with the native token MON.
- November 24: Two new crypto spot ETFs – Grayscale Dogecoin Trust ETF (GDOG) and Grayscale XRP Trust ETF (GXRP) – are expected to go live on NYSE Arca.
- November 25: Digital asset treasury company KR1 Plc will begin trading on the main market of the London Stock Exchange under the symbol 0A9X, migrating from the Aquis Stock Exchange.
- November 26: CTC-1, the first satellite constellation using the Spacecoin (SPACE) protocol, will be launched from Vandenberg Space Station in California.
- Macro
- November 25, 7 a.m.: Mexico Retail Sales in September YoY (previous 2.4%), MoM (previous 0.6%).
- November 25, 8:15 a.m.: ADP Employment Change Weekly (previous -2.5K).
- November 25, 8:30 a.m.: September IPP in the United States. Title YoY Est. 2.7%, MoM Est. 0.3%. Core YoY (previous 2.8%), MoM (previous -0.1%).
- Nov. 25, 8:30 a.m.: September U.S. retail sales year-over-year (previous 5%), MoM Est. 0.4%.
- November 26, 8:30 a.m.: Durable goods orders in the United States in September MoM Est. 0.3%.
- November 26, 8:30 a.m.: Initial unemployment claims in the United States for the week ended November 22 (previous 220,000), continuing unemployment claims for the week ended November 15 (previous 1974,000).
- November 28, 7 a.m.: Unemployment rate in Brazil in October (previous 5.6%).
- November 28, 7 a.m.: Mexico, October unemployment rate (previous 3%).
- November 28, 8:30 a.m.: Canada’s GDP growth rate in the third quarter. Annualized (previous -1.6%), QoQ (previous -0.4%).
- Earnings (estimates based on FactSet data)
- November 25: Cleanspark (CLSK), post-market.
Token Events
- Votes and calls on governance
- Moonwell DAO is voting to address approximately $5.25 million in bad debt on its core deployment by using excess reserves (specifically USDC and cbBTC) and redirecting all future protocol revenue to repayment, with priority given to the cbXRP and VIRTUAL markets. Voting closes on November 24.
- ZKsync DAO votes to streamline token program proposals (TPPs) by reducing the voting deadline from seven days to three days and extending the late quorum from seven days to two days. Voting closes on November 24.
- Aave DAO votes on its November funding update, which aims to consolidate treasury assets on Ethereum and acquire 8 million GHO from the market to fund operations, service providers and security audits. Voting closes on November 24.
- CoW DAO votes to strengthen partner incentives by granting a share of price improvement, increasing the revenue cap to 5%, and increasing the partner fee split to 75%. Voting closes on November 26.
- Arbitrum DAO votes to reconfirm John Kennedy and Tim Chang for AGV Council 2026 to preserve institutional knowledge. Voting closes on November 27.
- Lightchain.AI is voting on a proposal to potentially delay the launch of its mainnet for up to six months after the sudden departure of a key developer that reportedly left the consensus layer incomplete. Voting closes on November 27.
- The Graph Council votes to implement a Reward Eligibility Oracle (REO) that restricts reward indexing to indexers meeting minimum availability and quality of service standards to better align incentives with network performance. Voting closes on November 30.
- Unlocks
- November 24: Plasma to unlock 4.74% of its circulating supply worth $17.81 million.
- November 28: to unlock 1.69% of its circulating supply worth $12.39 million.
- November 29: to unlock 2.68% of its circulating supply worth $318.92 million.
- November 30: to unlock 5.65% of its circulating supply worth $10.59 million.
- Token Launches
Conferences
