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Grayscale Files for Dogecoin ETF – How Did DOGE Prices React?
In a surprising turn of events, Grayscale filed for a Dogecoin (DOGE) ETF on the NYSE Arca. As this news broke, the cryptocurrency market was already in a risk-off mode, with Bitcoin (BTC) pulling back 4% from its all-time high and dragging memecoins down. However, despite these unfavorable conditions, DOGE managed to pop 3%, outperforming its peers.
This sudden uptick can be attributed to the Grayscale filing, as it brings fresh hype into the market. The ETF will hold DOGE directly and use Coinbase Custody, signaling a clearer path towards launch and potential liquidity impact. This significant development has led many to speculate whether this is finally the breakout spark DOGE has been waiting for.
It’s worth noting that DOGE’s strength in a shaky market isn’t just a fluke. While other memecoins bled, DOG
Source: eng.ambcrypto.com
