- Grayscale has filed to rename its Dogecoin belief to the Grayscale Dogecoin Belief ETF, aiming to commerce below the ticker GDOG on NYSE Arca.
- Competing companies Rex-Osprey and Bitwise have additionally filed for Dogecoin ETFs, because the SEC considers a variety of crypto-based funds.
- The SEC’s extra favorable stance on crypto ETFs—after courtroom rulings and coverage adjustments—has already led to identify Bitcoin and Ethereum ETF approvals.
Grayscale has formally taken the following step in its push to launch a Dogecoin-focused exchange-traded fund, submitting to rename the Grayscale Dogecoin Belief to the Grayscale Dogecoin Belief ETF. If authorized, the fund would commerce on NYSE Arca below the ticker GDOG, in keeping with the registration assertion filed on Friday.
ETF Approval Course of and Competitors
This transfer comes as Grayscale seeks U.S. Securities and Change Fee (SEC) approval to record and commerce the ETF. NYSE Arca had beforehand submitted a associated kind for the belief, and the up to date submitting aligns with the trade’s plans. Grayscale shouldn’t be alone—companies like Rex-Osprey and Bitwise have additionally filed for related merchandise, reflecting rising curiosity in Dogecoin-based funding autos.
Shifting SEC Stance Towards Crypto ETFs
The timing coincides with a notably friendlier regulatory local weather below the present presidential administration. Over the previous yr, the SEC has shifted its strategy, particularly towards ETFs. In July, it authorized in-kind creation and redemption for crypto ETFs and opened the door to functions for spot Bitcoin, Ethereum ETFs, and choices on sure spot Bitcoin ETPs.
This follows landmark approvals for spot Bitcoin ETFs earlier within the Biden administration and later Ethereum ETFs, a course of influenced by a pivotal courtroom ruling in Grayscale’s favor.