Critical Application for Dogecoin (DOGE) Following the Latest SEC Decision

Crypto asset management firm Grayscale has submitted a revised S-1 filing with the U.S. Securities and Exchange Commission (SEC) regarding its plan to convert its closed-end Dogecoin Trust fund into an exchange-traded fund (ETF).

According to a filing filed today, Grayscale has appointed Coinbase as both the prime broker and custodian for its Dogecoin ETF, which, if approved, will trade on NYSE Arca under the ticker symbol “GDOG.” NYSE Arca had previously filed for listing of the Grayscale Dogecoin Trust.

On the same day, NYSE Arca also submitted a proposed amendment to the Grayscale Ethereum Trust ETF and its “mini” version, requesting that these funds be traded under the “general listing standards” recently approved by the SEC, which provide for more flexible oversight.

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The new filings coincide with a period of intense activity in the crypto ETF market. The SEC's approval on Wednesday of standards that will facilitate the listing of crypto funds could pave the way for a significant increase in exchange-traded cryptocurrency products in the coming months, according to experts. These developments were followed shortly by SEC approval in the US by REX and Osprey for their first Dogecoin-focused funds, while Grayscale launched a multi-asset index fund encompassing Bitcoin, Ethereum, Solana, XRP, and Cardano.

Under new rules adopted by the SEC, a digital asset must have contracts on a regulated futures exchange for at least six months to be listed as an ETF. Grayscale noted that Dogecoin futures and options are currently traded on exchanges regulated by the Commodity Futures Trading Commission (CFTC) in the United States.

*This is not investment advice.

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