news 
Crypto News: Grayscale Files Second Application for Dogecoin ETF, Market Reacts
Grayscale has made headlines again by filing a second application with the US Securities and Exchange Commission (SEC) to launch a spot Dogecoin ETF. This development comes as a surprise to many in the crypto community, given the recent trend of regulatory bodies expressing skepticism towards decentralized finance (DeFi) and digital assets.
As per the latest filing, Grayscale has proposed an ETF that would directly hold Dogecoin, allowing investors to gain exposure to DOGE without actually buying and storing crypto themselves. This is a significant step forward in simplifying the process for traditional investors and could potentially boost DOGE’s accessibility.
The SEC filing outlines that the trust will hold Dogecoin as its sole asset, with Coinbase Custody Trust Company serving as the custodian. The shares will be issued and redeemed in large blocks called “Baskets,” each representing 10,000 shares. Initially, this process will be handled through cash transactions rather than in-kind transfers of DOGE.
Grayscale’s repeated efforts to launch a Dogecoin ETF have sparked significant interest in the market. The community is eagerly awaiting the SEC’s decision on this matter. Notably, the agency has already reviewed Grayscale’s initial application and delayed its decision, keeping it under review. With this second filing, many speculate that the company may be trying to demonstrate compliance with regulatory requirements.
DOGE price has responded positively to the news, surging between 2.5% to 6%, reaching a peak of around $0.2314 and boosting its market capitalization to approximately $34 billion.
Source: coinpedia.org
