Grayscale Files for Spot Dogecoin ETF, DOGE Rallies 2.5%

Financial giant Grayscale has formally submitted an SEC proposal to launch a Dogecoin Trust ETF under the ticker GDOG on the NYSE Arca. This move follows months of speculation and builds upon Grayscale’s previous attempts at obtaining regulatory approval for a similar fund. The proposed ETF will exclusively invest in Dogecoin, utilizing Coinbase Custody as its asset custodian, with shares issued in cash-based baskets of 10,000 units.