- Grayscale has filed to rename its Dogecoin trust to the Grayscale Dogecoin Trust ETF, aiming to trade under the ticker GDOG on NYSE Arca.
- Competing firms Rex-Osprey and Bitwise have also filed for Dogecoin ETFs, as the SEC considers a range of crypto-based funds.
- The SEC’s more favorable stance on crypto ETFs—after court rulings and policy changes—has already led to spot Bitcoin and Ethereum ETF approvals.
Grayscale has officially taken the next step in its push to launch a Dogecoin-focused exchange-traded fund, filing to rename the Grayscale Dogecoin Trust to the Grayscale Dogecoin Trust ETF. If approved, the fund would trade on NYSE Arca under the ticker GDOG, according to the registration statement filed on Friday.
ETF Approval Process and Competition
This move comes as Grayscale seeks U.S. Securities and Exchange Commission (SEC) approval to list and trade the ETF. NYSE Arca had previously submitted a related form for the trust, and the updated filing aligns with the exchange’s plans. Grayscale is not alone—firms like Rex-Osprey and Bitwise have also filed for similar products, reflecting growing interest in Dogecoin-based investment vehicles.
Shifting SEC Stance Toward Crypto ETFs
The timing coincides with a notably friendlier regulatory climate under the current presidential administration. Over the past year, the SEC has shifted its approach, especially toward ETFs. In July, it approved in-kind creation and redemption for crypto ETFs and opened the door to applications for spot Bitcoin, Ethereum ETFs, and options on certain spot Bitcoin ETPs.
This follows landmark approvals for spot Bitcoin ETFs earlier in the Biden administration and later Ethereum ETFs, a process influenced by a pivotal court ruling in Grayscale’s favor.
