Grayscale Files Second Application for Dogecoin ETF with US Securities and Exchange Commission
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Crypto News: Grayscale Files Second Application for Dogecoin ETF, Market Reacts
Grayscale Investments has filed a second application with the US Securities and Exchange Commission (SEC) to launch a spot Dogecoin ETF. This move is seen as a significant development in the crypto market, as it could potentially bring more mainstream recognition and investment into the space.
The proposed ETF would allow investors to gain exposure to Dogecoin without actually buying and storing cryptocurrency themselves. This could simplify the process for traditional investors who are looking to enter the market, which may have a positive impact on DOGE’s accessibility and adoption rate.
In its filing, Grayscale outlines that the trust will hold Dogecoin as its sole asset, with Coinbase Custody Trust Company serving as the custodian. The shares would be issued and redeemed in large blocks called “Baskets,” each representing 10,000 shares. Initially, this process would involve cash transactions rather than in-kind transfers of DOGE.
The SEC has a period of review for 240 days before approving or denying any ETF application. During this time, the commission is seeking public comments and reviewing the proposal. It’s expected that the final decision will be released between October 2025 to January 2026.
Notably, Grayscale first applied to launch a Dogecoin ETF in March, with the SEC acknowledging the application and subsequently delaying its decision, keeping it under review. The latest filing is seen as a reinforcement of Grayscale’s commitment to bringing this ETF to market.
The DOGE price has responded positively to the news, surging between 2.5% and 6%, peaking at around $0.2314 and boosting its market capitalization to approximately $34 billion.
It remains to be seen whether the SEC will approve Grayscale’s application or reject it. However, this development is likely to have significant implications for the crypto market regardless of the outcome.
Source: coinpedia.org
