Cryptocurrency asset administration firm Grayscale has filed for an alternate-traded fund (ETF) for Dogecoin. The latest submitting with the U.S. Securities and Commerce Commission (SEC) states that the fund will alternate on the NYSE Arca below the ticker symbol “GDOG.”
Grayscale launched that it has renamed its present Grayscale Dogecoin Have faith fund to Grayscale Dogecoin Have faith ETF. If the company’s application is authorized, the fund will be listed on NYSE Arca.
Grayscale is no longer the most effective company within the hunt for SEC reputation of its Dogecoin ETF. Rex-Osprey and Bitwise occupy also filed the same applications. These developments mirror the SEC’s softening of its potential to cryptocurrency ETFs below the original administration.
Over the past year, the SEC has made indispensable strides, in particular within the ETF plan. In July, the company adopted rules for crypto ETFs that enable authorized participants to build and redeem them with crypto belongings as an alternate of cash. It also authorized choices trading for space Bitcoin and Ethereum ETFs, as effectively as distinct space Bitcoin ETPs.
Grayscale played a extreme feature within the gap Bitcoin ETF approval route of following its previous lawsuit victory. The SEC’s approval of space Bitcoin ETFs after which Ethereum ETFs at some stage within the Biden administration are even handed key steps on this transformation.
*That is no longer funding advice.
