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SEC Reviews Grayscale’s Dogecoin ETF Proposal

SEC Reviews Grayscale’s Dogecoin ETF Proposal

CryptoFrontNewsCryptoFrontNews2025/02/14 16:00
By:Mutugi Benard

The SEC has acknowledged Grayscale’s Dogecoin ETF filing, opting to review it instead of immediately rejecting it like past altcoin applications. NYSE Arca submitted Amendment No. 1 to refine Grayscale’s ETF proposal, addressing regulatory concerns for improved compliance and market viability. If approved, Grayscale’s Dogecoin ETF could increase #institutional investment in DOGE, offering regulated exposure to a broader investor base.

  • The SEC has acknowledged Grayscale’s Dogecoin ETF filing, opting to review it instead of immediately rejecting it like past altcoin applications.
  • NYSE Arca submitted Amendment No. 1 to refine Grayscale’s ETF proposal, addressing regulatory concerns for improved compliance and market viability.
  • If approved, Grayscale’s Dogecoin ETF could increase #institutional investment in DOGE, offering regulated exposure to a broader investor base.

Grayscale submitted its application for converting Dogecoin Trust into a spot Dogecoin Exchange-Traded Fund (ETF) to the U.S. Securities and Exchange Commission (SEC) which accepted the submission. Cryptocurrency regulation advances as the regulator conducts an active evaluation instead of denying the application request. 

Grayscale’s ETF Filing and Industry Involvement

On January 31, 2025, NYSE Arca submitted a request to the SEC to list and trade shares of Grayscale Dogecoin Trust. The application was in line with NYSE Arca Rule 8.201-E, applicable to commodity-based trust shares. The action is a repeat of attempts previously made by Grayscale to get cryptocurrency investing products listed in ordinary financial markets.

Crypto analyst CryptosR_Us shared the news on Twitter, highlighting that the SEC has officially acknowledged Grayscale’s 19b-4 filing for a spot in the Dogecoin ETF. This move comes as Grayscale and other firms actively push for broader cryptocurrency ETF approvals.

🎯JUST IN: The 🇺🇸SEC acknowledges @Grayscale 's filing for a spot Dogecoin ETF $DOGE pic.twitter.com/S6XvRqOWsk

— CryptosRus (@CryptosR_Us) February 13, 2025

Additionally, Bitwise and REX Shares also submitted a Dogecoin ETF application. Other firms, including Canary Capital, 21Shares, and WisdomTree, also submitted a similar application for an XRP ETF. The filing surge is a reflection of heightened institutional demand to get cryptocurrency-based ETFs in front of American investors.

Amendment to Grayscale’s Proposal and SEC’s Consideration

On February 10, 2025, NYSE Arca submitted Amendment No. 1, which replaced and substituted the initial filing. The amendment altered key aspects regarding the structure and regulation of the proposed Dogecoin Trust ETF.

Unlike previous filings for altcoin ETFs that were swiftly rejected, the SEC has chosen to review Grayscale’s application in a formal process. The regulator has also established a period of public comment, during which time interested parties can provide their input on the proposed rule change. The action to review the filing shows a greater willingness to review more cryptocurrency-based ETFs.

Potential Market Power and Investor Sentiment

The SEC’s approval of the Grayscale Dogecoin ETF would give institutional and individual investors regulated access to Dogecoin exposure. The approval of the Grayscale Dogecoin ETF by the SEC would create both liquidity and marketplace access for DOGE , which would draw additional investors into the market.

Industry analysts are of the view that approval would be a massive milestone towards institutional finance adoption of Dogecoin. The SEC’s reaction to this application has boosted expectations of rolling out Dogecoin ETFs in the coming time.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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