Dogecoin News Today: Grayscale Files Dogecoin ETF Application as DOGE Rises 2.5%

Grayscale has submitted an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot Dogecoin ETF, officially named the Grayscale Dogecoin Trust, marking a significant step in the firm’s ongoing expansion into the cryptocurrency asset class [1]. The filing outlines the trust as a passive investment vehicle that will hold Dogecoin (DOGE) directly, without the use of derivatives, leverage, or active trading strategies [2]. If approved, the ETF will trade on NYSE Arca under the ticker symbol GDOG [2].

According to the filing, Dogecoin will be the sole asset held within the trust, with Coinbase Custody Trust Company designated as the custodian [1]. The trust will issue and redeem shares in blocks of 10,000, known as “Baskets,” with initial settlement conducted in cash rather than through Dogecoin transfers [1]. The valuation of the trust will be based on the CoinDesk Dogecoin Reference Rate, which reflects the market price of DOGE without including fees or liabilities [2].

The filing also highlights several risk factors, including the inherent volatility of DOGE’s price, regulatory uncertainty, and potential competition from other digital assets [1]. It is also noted that the trust will comply with NYSE’s updated listing requirements, effective January 31, 2025 [1]. Grayscale emphasized that the trust’s shares will only become available once the application receives full regulatory approval [1].

The announcement had an immediate effect on the market. In the 24 hours following the filing, the price of DOGE increased by nearly 2.5%, reaching $0.22976 from $0.22395 [1]. Over the last seven days, the token has risen 2.67%, and over the past 30 days, it has gained 14.65% [1]. The market reaction indicates a strong investor response to Grayscale’s move.

This filing comes as the SEC delays decisions on other ETF applications, including those for Solana and Dogecoin from Bitwise, 21Shares, and VanEck [1]. Bitwise also recently submitted its Dogecoin ETF application, identifying Coinbase Custody as the intended custodian, though it has not yet disclosed the ETF’s management fee, ticker symbol, or listing exchange [1]. REX-Osprey is among other firms awaiting approval for its spot Dogecoin ETF [1].

Bloomberg ETF analyst James Seyffart has observed that the increasing number of ETF applications may indicate companies are “testing the limits of what this SEC is going to allow” [1]. The regulatory landscape remains uncertain, but Grayscale’s filing demonstrates continued institutional interest in cryptocurrencies, especially those with robust community support [1].

Grayscale has previously filed for ETFs on Solana and XRP, further underscoring its strategy to offer institutional-grade exposure to a broader range of digital assets [1]. The company currently manages over $33 billion in assets across its Bitcoin and Ethereum investment funds and offers more than three dozen crypto-related products [1].

The Grayscale Dogecoin Trust filing represents another attempt to bring traditional investment structures to the crypto market, potentially enhancing the legitimacy and accessibility of Dogecoin among mainstream investors. However, the final approval of the ETF remains subject to the SEC’s review and broader regulatory developments in the space.

Source:

[1] Grayscale Files S-1 for Dogecoin ETF, DOGE Price Spikes. CoinGape. (https://coingape.com/grayscale-files-s-1-for-dogecoin-etf-doge-price-spikes/)

[2] Grayscale seeks SEC approval for its Dogecoin ETF, ticker ... MEXC. (https://www.mexc.com/news/grayscale-seeks-sec-approval-for-its-dogecoin-etf-ticker-symbol-gdog/65491)

[3] Cardano Hits New Milestone As Grayscale Moves Forward ... Mitrade. (https://www.mitrade.com/insights/news/live-news/article-3-1040212-20250814)

[4] Trump Coin Jumps 10% On Canary Capital ETF Filing. Mitrade. (https://www.mitrade.com/insights/news/live-news/article-3-1045016-20250816)