Spot Dogecoin ETF Continues to Gain Momentum With New Grayscale Application

Grayscale has taken a significant step toward launching a spot Dogecoin ETF, filing a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) through NYSE Arca. The move follows the firm’s introduction of the Grayscale Dogecoin Trust.

Dogecoin, similar to Bitcoin and Litecoin, can be used for transactions, exchanged for fiat currencies, or serve as a reward for miners verifying network transactions.

If approved, Grayscale’s spot Dogecoin ETF would provide institutional and retail investors with an alternative way to gain exposure to Dogecoin without directly holding the asset. Grayscale has previously followed a similar strategy with Bitcoin and Ethereum before securing ETF approvals for those assets.

This marks the third Dogecoin ETF application submitted to the SEC, following filings from REX Shares and Bitwise. The growing number of applications has fueled speculation that DOGE could see increased adoption and potentially reach the $1 price level.

Grayscale emphasized that Dogecoin has evolved beyond its meme origins to become a legitimate digital asset, contributing to financial inclusion and blockchain-based transactions.

The firm’s filing aligns with a broader wave of crypto-related ETF applications with shifting regulatory attitudes under the administration of President Donald Trump. His pro-crypto stance has led to key regulatory appointments, including SEC Chair Paul Atkins and a new AI and crypto czar.