Grayscale Strikes Ahead With Dogecoin ETF Plan Below Ticker ‘GDOG’

Grayscale is pushing forward with its bid to launch a Dogecoin exchange-traded fund, revealing the ticker “GDOG” in its newest US Securities and Alternate Fee submitting.

Key Takeaways:

• Grayscale has filed to transform its Dogecoin Belief into an ETF below the ticker GDOG on NYSE Arca.
• The SEC is reviewing a number of crypto ETF purposes amid a extra favorable regulatory local weather below the Trump administration.
• Ether ETFs hit a report $17 billion in weekly quantity as Bitcoin reached $124,000 and ETH neared its 2021 peak.

The corporate stated Friday it plans to rename its present Grayscale Dogecoin Belief to the Grayscale Dogecoin Belief ETF.

If permitted, the fund would listing on NYSE Arca, which has already filed paperwork to assist the itemizing. “The Shares are anticipated to be listed on NYSE Arca below the ticker image ‘GDOG,’” the submitting acknowledged.

Grayscale Joins Rising Race for Crypto ETF Approvals

Grayscale’s proposal enters a crowded area. Opponents Rex-Osprey and Bitwise have additionally submitted purposes for related merchandise because the SEC weighs dozens of crypto ETF requests.

Latest filings cowl a large spectrum, from SOL- to XRP-tracking funds, reflecting a shifting regulatory local weather below the Trump administration.

The SEC’s tone towards crypto ETFs has warmed significantly over the previous yr. In July, the company permitted in-kind creations and redemptions for crypto ETFs and gave the inexperienced mild for purposes to listing and commerce spot Bitcoin and Ethereum ETFs, together with choices on sure spot Bitcoin ETPs.

That shift follows a pivotal courtroom win for Grayscale through the Biden period, which paved the best way for spot Bitcoin ETFs in January 2024 and spot Ether ETFs later that yr.

The marketplace for US-based spot Bitcoin and Ether ETFs is now booming. ETF analyst Eric Balchunas reported final week was the strongest but for mixed buying and selling quantity, pushed largely by a surge in Ether ETF exercise.

Weekly Ether ETF quantity hit $17 billion, a brand new report, coinciding with Bitcoin’s climb to an all-time excessive of $124,000 and Ether’s near-return to its November 2021 peak.

Ether ETFs have pulled in over $3 billion in web inflows within the first half of August alone, their second-strongest month since launch.

Balchunas famous the merchandise had been “asleep” for almost a yr earlier than cramming a yr’s value of buying and selling into six weeks.

Bitcoin ETFs Hit $73.6K as Analysts Draw Parallels to Ether Rally

Bitcoin ETFs, in the meantime, have additionally posted contemporary highs, with costs reaching $73,679 inside two months of launch earlier this yr.

Analysts see parallels between Ether’s present rally and Bitcoin’s surge after its ETF debut.

“This transfer is akin to the BTC ETF launch, when Bitcoin continued to rally upward,” stated MN Buying and selling Capital’s Michaël van de Poppe, predicting extra upside for altcoins.

Nonetheless, some warn that Ether’s all-time excessive might not arrive instantly. Nansen’s Jake Kennis steered it may take weeks or months, even with ETH now just some hundred {dollars} shy of a brand new report.

In the meantime, the SEC has prolonged its evaluate interval for 2 Solana ETFs filings to October 16, 2025.

The SEC stated that the extension permits “ample time to think about” Solana ETF proposals from Bitwise and 21Shares, which have been initially due on August 17.

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