Grayscale’s Dogecoin Trust ETF (GDOG) and XRP Trust ETF (GXRP) are set to debut later Monday, with the underlying tokens heading for their worst months since February along with the rest of the crypto market. The CoinDesk 20 index (CD20) has lost 23% since the start of November.
ETF flows in the month reflect the performance of the underlying assets. Find bitcoins ETFs in the US have had net outflows of $3.55 billion since the beginning of the month. Any more could take the number back above February’s record of $3.56 billion.
Bitcoin miner CleanSpark ( CLSK ) reports fiscal fourth-quarter earnings on Tuesday. Rival Riot Platforms (RIOT) delivered unexpected profit and record revenue, and Iren (IREN) reported record profit and revenue as it moves into artificial intelligence.
What to see
- Crypto
- Nov 24: Monad’s public mainnet launches with native token MON.
- November 24: Two new spot crypto ETFs – Grayscale Dogecoin Trust ETF (GDOG) and Grayscale XRP Trust ETF (GXRP) – are expected to go live on NYSE Arca.
- November 25: Treasury digital asset company KR1 Plc begins trading on the main market of the London Stock Exchange under the ticker 0A9X, migrating from the Aquis Stock Exchange.
- November 26: CTC-1, the first satellite constellation running the Spacecoin (SPACE) protocol, will be launched from Vandenberg Space Force Base in California.
- Macro
- Nov 25 at 07.00: Mexico Sep Retail Sales YoY (Prev 2.4%), MoM (Prev 0.6%).
- Nov 25 at 8.15 am: ADP employment changes weekly (previous -2.5K).
- Nov 25 at 8.30am: US Sept. PPI. Headline YoY Est. 2.7%, MoM Est. 0.3%. Core y/y (previously 2.8%), MoM (previously -0.1%).
- Nov 25 at 8.30am: US retail sales in September (previous 5%), MoM estimated. 0.4%.
- Nov 26 at 8:30 a.m.: US Sept. Orders of durable goods MoM Est. 0.3%.
- Nov 26 at 08.30: Initial applications for vacancies in the US for the week ending 22 Nov. (Prev 220,000), continuing jobless claims for week ended November 15 (prev 1974,000).
- Nov 28 at 7: Brazil Oct. Unemployment rate (previously 5.6%).
- Nov 28 at 07.00: The unemployment rate in Mexico Oct. (Previous 3%).
- Nov 28 at 8.30am: Canada’s GDP growth in Q3. Annualized (Previous -1.6%), QoQ (Previous -0.4%).
- Earnings (Estimated based on FactSet data)
- November 25: Cleanspark (CLSK), post-market.
Token Events
- Governance votes and calls
- Moonwell DAO votes to remedy ~5.25M USD in bad debt on its base implementation by using excess reserves (specifically USDC and cbBTC) and redirecting all future protocol revenues towards repayment, with priority given to cbXRP and VIRTUAL markets. Voting ends November 24.
- ZKsync DAO votes to streamline token program proposals (TPPs) by reducing the voting delay from seven days to three days and the extension of the late quorum from seven days to two days. Voting ends November 24.
- Aave DAO votes on its November funding update, which seeks to consolidate treasury assets on Ethereum and acquire 8 million GHO from the market to fund operations, service providers and security audits. Voting ends November 24.
- The CoW DAO votes to increase partner incentives by providing a share of price improvements, raising the revenue cap to 5%, and increasing the partner fee split to 75%. Voting ends November 26.
- Arbitrum DAO votes to reconfirm John Kennedy and Tim Chang to AGV Council in 2026 to preserve institutional knowledge. Voting ends November 27.
- Lightchain.AI is voting on a proposal to potentially delay its mainnet launch by up to six months following the sudden departure of a key developer who reportedly left the consensus layer incomplete. Voting ends November 27.
- Graph Council votes to implement a Rewards Eligibility Oracle (REO) that limits indexing rewards to indexers that meet minimum uptime and quality of service standards to better align incentives with network performance. Voting ends 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 valued at $318.92 million.
- November 30: to unlock 5.65% of its circulating supply, worth $10.59 million.
- The token is launched
Conferences
