Grayscale Seeks Approval for Spot Dogecoin ETF, Could Boost Meme Coin Adoption

Grayscale has officially filed an S-1 application with the SEC for a spot Dogecoin exchange-traded fund (ETF), aiming to list under the ticker GDOG on NYSE Arca. This move signifies a significant step towards mainstream institutional access for Dogecoin. The filing follows a 2.5% price surge in DOGE following the announcement. Coinbase Custody Trust has been named the official custodian for the proposed ETF. Grayscale’s pursuit of regulatory approval could ultimately pave the way for increased interest from institutions, potentially accelerating the adoption of meme coins by traditional investors.