Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) seeking approval to launch a Dogecoin exchange-traded fund (ETF).
According to a registration statement submitted on Friday, the product would trade on NYSE Arca under the ticker GDOG if approved.
The asset manager said it is converting its existing Grayscale Dogecoin Trust into the Grayscale Dogecoin Trust ETF. NYSE Arca had already filed a related application for the Dogecoin product, and Grayscale confirmed that the ETF shares are expected to list under the GDOG symbol.
Grayscale is not the only company competing to bring a Dogecoin ETF to market. Rivals including Rex-Osprey and Bitwise have submitted similar filings, as the SEC reviews a wide range of crypto ETF applications spanning tokens from Solana to XRP.
The agency’s approach to crypto ETFs has undergone considerable shifts over the past year. In July, the SEC voted to allow in-kind creations and redemptions for crypto funds and later cleared applications for spot Bitcoin and Ethereum ETFs, along with options on certain spot Bitcoin products.
The approvals followed a key court ruling in favor of Grayscale that forced the regulator to revisit its earlier rejections.
Dogecoin, the meme-inspired cryptocurrency ranked eighth by market value, was trading at $0.2314 on Saturday, up 0.25% in the past 24 hours.
Also Read: US SEC Extends Review of Solana ETFs from Bitwise & 21Shares
