NYSE Proposes Dogecoin ETF Listing

NYSE Arca has proposed a rule change to list and trade shares of the Bitwise Asset Management Dogecoin exchange-traded fund (ETF). On March 3, the New York Stock Exchange subsidiary filed a 19b-4, which, if approved, would enable the exchange to list the Bitwise Dogecoin (DOGE) ETF, offering direct exposure to the memecoin.

Coinbase will act as the Dogecoin custodian, while the Bank of New York Mellon will handle cash custody, administration, and transfer agency functions. The ETF uses cash creations and redemptions, meaning investors cannot contribute or receive Dogecoin directly. Bitwise filed an S-1 registration form for the product with the Securities and Exchange Commission (SEC) in late January.

If approved, this would be one of the first US-listed memecoin ETFs, providing regulated access to Dogecoin for institutional and retail investors. On Feb. 13, the SEC acknowledged Grayscale’s filings for the Grayscale Dogecoin Trust, meaning the timeline for reviewing and deciding on the product has begun, with a potential deadline around mid-October.

Meanwhile, the Nasdaq filed a similar proposed rule change with the SEC on March 3 to list and trade shares of the Grayscale Hedera Trust, tracking the price of HBAR, the native token of the Hedera Network. In late February, the Nasdaq filed to list a similar Hedera product from Canary Capital.

There has been a surge in altcoin ETF applications from various issuers, including funds tracking the prices of Cardano (ADA), Solana (SOL), Polkadot (DOT), Litecoin (LTC), and XRP (XRP) in the United States since the change in administration and crypto-friendly pivot by the SEC.