Yeliz Akmaca 
Grayscale has filed for the first-ever spot Dogecoin ETF with the U.S. Securities and Exchange Commission (SEC). The company aims to list this fund under the ticker GDOG on the NYSE Arca exchange as the Dogecoin Trust. Following the announcement, Dogecoin’s price increased by 2.5% in the last 24 hours.
The fund’s assets will consist entirely of Dogecoin. Coinbase Custody Trust Company will act as the official custodian. The fund will issue large blocks called “Baskets,” each representing 10,000 shares. Initially, transactions will be cash-only, allowing investors to access DOGE markets without directly holding the cryptocurrency.
The fund’s value will be based on the CoinDesk Dogecoin Reference Rate, reflecting DOGE’s market price and supporting a passive management strategy. Additionally, the fund will track price performance without using leverage or derivatives.
However, listing requires compliance with NYSE approval guidelines announced on January 31, 2025. Grayscale stated that share distribution will not begin without SEC approval.
DOGE Price Surge and Market Impact
Following the filing, DOGE rose from $0.22395 to $0.22976, strengthening a 7-day gain of 2.67% and a 1-month increase of 14.65%. Late-day purchases broke the sideways trend, triggering a sharp upward move.
Grayscale’s Dogecoin ETF plan may also attract institutional investors to the meme coin market, making DOGE appealing not only to retail investors but also to institutional portfolios. Risk factors highlighted in the filing include price volatility, regulatory uncertainty, and competition with other crypto assets.
If SEC approval is granted, the Dogecoin ETF will become a new market benchmark, positioning DOGE more strongly for long-term investment strategies.
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