Grayscale seeks SEC Approval for Spot Dogecoin ETF
Grayscale investments has officially submitted an S-1 registration form to the U.S. Securities and Exchange Commission (SEC) to establish a spot Dogecoin (DOGE) ETF. The new fund, set to trade under the ticker symbol “GDOG” on the NYSE arca platform, aims to give investors access to DOGE without needing to buy tokens directly.
Currently trading at $0.23, Dogecoin hasn’t seen much growth despite increasing interest in meme coin ETFs. The filing involves renaming the existing Grayscale Dogecoin trust and converting it into an ETF format.This restructuring is expected to enhance liquidity and reduce costs for investors.
Coinbase Custody Trust Company will hold the DOGE assets securely, acting as the sole custodian for the fund.The ETF will operate passively,avoiding active trading,loans,or derivatives.
- grayscale cites price volatility,regulatory challenges,and competition as potential risks.
- The ETF aligns with the NYSE’s updated listing criteria, effective January 31.
Multiple companies, such as Rex-Osprey and Bitwise, have also filed for DOGE ETFs. this suggests strong institutional desire for regulated meme coin investments. However, SEC approvals are pending, leaving ETF trading timelines uncertain.
Dogecoin’s muted market response contrasts with other cryptos’ reactions to institutional backing. The ETFs must win SEC approval before launching. Grayscale will only proceed with the offering upon regulatory green light.
