will the ETF on Dogecoin arrive on Wall Street?

Grayscale aims to launch the first ETF on Dogecoin in the history of Wall Street. This initiative could profoundly transform the relationship between Dogecoin and the traditional financial world, bringing the famous cryptocurrency, born almost as a joke, closer to millions of investors, both institutional and retail. This is a step that could mark the beginning of a new era for ETFs linked to digital assets.

According to the data collected by Grayscale Investments, the demand for a Dogecoin ETF reflects a growing interest among both retail and institutional investors. Industry analysts note that the introduction of a dedicated ETF could significantly increase the liquidity of Dogecoin in regulated markets.

ETF Dogecoin: what the Grayscale proposal foresees and what can change

Grayscale has submitted a formal request to the Securities and Exchange Commission (SEC) for the listing of the Grayscale Dogecoin Trust ETF, identified by the ticker “GDOG”. The goal is clear and ambitious: to convert the existing trust into a spot Dogecoin ETF that faithfully reflects the trend and real value of the cryptocurrency DOGE held in the fund.

In case of approval by the SEC, the ETF would be traded on the NYSE Arca market, with the initial possibility that the shares are created and redeemed only in cash, thanks to collaborations with major liquidity providers. It is planned, in a subsequent phase, to transition to an “in-kind” management of Dogecoin, as soon as the necessary regulatory adjustments are completed.

The preliminary internal reviews within the sector highlight that a prominent asset manager like Grayscale is planning to leverage its established experience in managing trusts on criptovalute, as demonstrated with the Bitcoin Trust, to replicate established models in the case of Dogecoin as well.

SEC Approval of Dogecoin ETF: a decisive match for the crypto-economy

The green light from the SEC represents the crucial point: only after the approval of the 19b-4 procedure, the Grayscale Dogecoin ETF could officially debut on the market. This would unlock the entry of new capital and open up a level of transparency and accessibility never before seen for Dogecoin.

• Direct management of Dogecoin as the primary asset of the fund
• Creation and redemption of shares initially only in cash
• SEC approval essential before launch

The situation is still evolving: the application submitted by Grayscale has been taken up by the SEC and is currently under review. A date for a final decision has not yet been set, expected presumably in the coming months.

NYSE and the race for spot ETFs: Dogecoin becomes a protagonist in the USA boom

The entry of Grayscale into the race for the ETF spot Dogecoin accelerates the competition to obtain the first officially approved ETF in the United States. Among the other contenders are Bitwise, Rex Shares (Osprey), and 21Shares, with their applications already under review.

The listing on NYSE could not only increase the liquidity of Dogecoin, but also ensure greater transparency throughout the entire digital asset supply chain. Meanwhile, the SEC is reviewing regulations for brokers and dealers, with the aim of ensuring greater protection for investors and mitigating the risks of market manipulation.

According to the annual reports of SEC, the regulation on cryptocurrencies continues to evolve to ensure higher standards of investor protection, in line with the growing capitalization of the digital sector which surpassed, in May 2024, 2.1 trillion dollars globally.

Grayscale Commissions: why the Dogecoin ETF fee is causing a stir on Wall Street

One of the most discussed aspects concerns the fee structure: Grayscale’s prospectus establishes an annual fee of 0.75%, calculated daily and collected directly in Dogecoin. This percentage is positioned at a competitive level compared to the average of active crypto ETFs in the United States, but experts emphasize that it remains a crucial element to attract significant investment flows.

• Annual fee: 0.75%
• Payment: made directly in DOGE
• Transparency: costs clearly indicated in the prospectus

Max Anderson, market analyst at ETF Analytics, notes: 

“Clarity on fees has become a fundamental requirement today to convince both new digital investors and traditional ones, still cautious towards the crypto world.”

Dogecoin ETF Demand: What Obstacles Remain Before Launch?

The path to authorization remains complex: the SEC carefully evaluates the risks related to the custody of cryptocurrencies, pricing mechanisms, and the methods of redeeming ETF shares. Grayscale, like other applicants, must provide clear operational details, from the process of creating shares to the use of public and reliable price sources.

• Review of digital asset management policies
• Monitoring of liquidity as well as the creation and redemption processes
• Comparison with other competing questions and the related regulatory risks

According to several experts, the approval of one or more Dogecoin ETFs could generate a domino effect on the entire sector, accelerating regulation and the introduction of new financial instruments based on cryptocurrencies.

The studies conducted by ETF Analytics highlight that the American regulatory framework, while maintaining rigidities, is progressively adapting the criteria to accommodate innovative crypto products with increasing levels of security and transparency.

Is the SEC’s green light on Dogecoin really that close?

The approval is not yet guaranteed. The SEC is continuing to carefully evaluate issues related to volatility, token custody, and prevention of market abuse. Only by presenting solid guarantees in terms of transparency and security can the proponents obtain permission for listing on the NYSE. Meanwhile, the market follows every development with great interest.

Dogecoin soars in the rankings: impact on the market and new scenarios

Dogecoin has recently fluctuated around the threshold of 35 billion dollars in market capitalization, maintaining its position as one of the most influential cryptocurrencies globally. The interest sparked by the potential ETF has contributed to new peaks of attention, prompting analysts and historical brokers to consider this “crypto outsider” with greater seriousness.

According to some studies by Citi Digital Assets:

“A listing on NYSE could bring Dogecoin to a higher level of trust and accessibility.”

Recent reports highlight how the total market capitalization of Dogecoin increased by 12% in the first quarter of 2025, indicating a growing interest that may be related to the initiatives for the creation of the ETF.

The regulatory issue: why the management of Dogecoin assets remains in the spotlight

The management of digital reserves represents a true challenge. The SEC has imposed stringent rules regarding how brokers can custody and manage the Dogecoin tokens underlying the ETFs. Only certified custody platforms, accompanied by rigorous and traceable processes, will be able to ensure liquidity, transparency, and security to the new Dogecoin ETF.

The future of Dogecoin ETFs: competition, pending questions, and upcoming innovation

The comparison between the operators who have requested the approval of the Dogecoin ETF from the SEC could stimulate the development of new financial products, paving the way for more direct involvement of banks, funds, and institutional investors in the regulated cryptocurrency market.

The first listing of a Dogecoin ETF in the United States could represent a turning point: after Bitcoin and Ethereum, the “meme” cryptocurrency aims to gain a leading role on the global financial scene as well.

Conclusions: Grayscale, SEC and the epochal turning point for Dogecoin

Grayscale’s initiative goes beyond a simple request: it signals that the traditional financial sector is ready for a concrete investment in Dogecoin. If the SEC grants the green light, we could witness one of the most significant evolutions in the crypto field, with Dogecoin transitioning from a viral phenomenon to an institutional asset aimed at a global audience.