SEC Reviews Grayscale’s Dogecoin ETF Proposal

The U.S. Securities and Exchange Commission (SEC) has officially acknowledged a new crypto ETF proposal, this time for Dogecoin (DOGE)—the seminal meme token in the crypto industry.

On Thursday, NYSE Arca submitted a 19b-4 filing to list shares of the Grayscale Dogecoin Trust, outlining plans to convert the fund into an exchange-traded product (ETP) that would track DOGE’s price using CoinDesk’s DCX index.

If approved, this could mark a major milestone for Dogecoin, giving it institutional legitimacy and broader market exposure.

SEC to Review Dogecoin ETF Proposal—Key Details

The Grayscale Dogecoin Trust filing follows a similar framework to other crypto trust conversions, including Grayscale’s XRP ETF proposal, which was acknowledged on the same day.

📌 How Would the DOGE ETF Work?

🔹 Authorized participants handle cash transactions instead of DOGE directly, easing regulatory concerns.
🔹 Coinbase Custody would manage the meme coin’s storage.
🔹 BNY Mellon would oversee administrative duties.
🔹 Pricing data would be sourced from regulated U.S. exchanges such as Coinbase, Kraken, and Crypto.com.

Why is this important?

✅ A regulated ETF could provide greater liquidity for DOGE investors.
✅ Institutional investors would gain safer access to Dogecoin.
✅ Potential mainstream adoption could push DOGE’s price higher.

SEC’s 240-Day Review Process for Dogecoin ETF

While the SEC has acknowledged the 19b-4 filing, the official 240-day review window—starting with an initial 45-day period—only begins after its publication in the Federal Register.

🔹 Grayscale previously launched a trust for DOGE, intending to convert it into a full-fledged ETF.
🔹 A trust is a structured investment vehicle that holds assets, but lacks liquidity and redemption options.
🔹 An ETF, on the other hand, is a publicly traded fund that allows real-time buying and selling with greater market liquidity.

If approved, this could pave the way for Dogecoin’s broader acceptance as a legitimate digital asset.

Dogecoin ETF Could Boost DOGE’s Legitimacy

Dogecoin started as a joke in 2013, but over the years, it has become a widely recognized cryptocurrency, used for payments, charitable donations, and tipping.

According to the filing:

“Over 2,500 merchants and retailers accept DOGE for goods and services, including the Dallas Mavericks and AMC Theaters.”

Additionally, DOGE has been used for philanthropy, such as funding a water well in Kenya and sponsoring community-driven initiatives.

If the SEC greenlights the Dogecoin ETF, it would provide institutional credibility, potentially driving higher adoption rates.

Conclusion: Will the SEC Approve the Dogecoin ETF?

📌 The SEC has acknowledged the DOGE ETF proposal, but approval is far from guaranteed.
📌 If accepted, Dogecoin could become more accessible to institutional investors.
📌 The ETF would provide better liquidity and mainstream exposure for DOGE.

With meme coins gaining traction, Dogecoin’s path to legitimacy could take a major step forward if the ETF gets the green light.

For now, investors are closely watching the SEC’s review process, as DOGE’s potential ETF listing could reshape its future in the crypto space.