- The SEC acknowledged Grayscale’s proposal for a Dogecoin ETF, opening a 21-day public comment period before making a decision.
- Grayscale argues Dogecoin has evolved beyond a meme, calling it a tool for financial inclusion and a viable payment method.
- With recent approvals of Bitcoin and Ethereum ETFs, the SEC’s stance on crypto ETFs is shifting, sparking new proposals for Solana, Dogecoin, and XRP ETFs.
The U.S. SEC has officially acknowledged Grayscale’s proposal for a Dogecoin (DOGE) exchange-traded fund (ETF), taking the first step in the approval process.
In a 19b-4 filing posted Thursday, the SEC called for public comments, giving 21 days for responses before making a decision to approve, deny, or extend proceedings.
Grayscale’s Push for a DOGE ETF—More Than Just a Meme?
Grayscale, which launched its Dogecoin Trust in January, argues that DOGE has evolved beyond its meme roots.
“Dogecoin has transitioned from a Shiba Inu meme to a tool for financial inclusion, grassroots activism, and a viable payment method.”
DOGE is currently the eighth-largest cryptocurrency, and its popularity has been fueled by none other than Elon Musk.
Regulatory Shift—More Crypto ETFs on the Horizon?
The SEC has been warming up to crypto ETFs following the departure of former Chair Gary Gensler, who was notoriously skeptical of digital assets.
- Spot Bitcoin ETFs were approved in January 2024.
- Spot Ethereum ETFs followed later that year.
- Now, firms are testing the waters with proposals for Solana, Dogecoin, and XRP ETFs.
With the SEC now engaging in more open discussions, the crypto ETF landscape could be expanding fast.
For now, all eyes are on the Dogecoin ETF decision.
