Crypto News: Grayscale Files Second Application for Dogecoin ETF, Market Reacts

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Digital asset management firm Grayscale has filed an S-1 form with the US Securities and Exchange Commission (SEC) to launch a spot Dogecoin ETF. If approved, it will be listed on the New York Stock Exchange Arca. The ETF would trade under the ticker symbol GDOG.

Grayscale Files for Dogecoin ETF

Grayscale has proposed an ETF that would directly hold Dogecoin, allowing investors to gain exposure to DOGE without actually buying and storing crypto themselves. This is an initial step with the SEC for public companies to list their securities on a US exchange.

It will simplify the process for traditional investors and could boost DOGE’s accessibility. The SEC filing outlines that the trust will hold Dogecoin as its sole asset, with Coinbase Custody Trust Company serving as the custodian.

The shares will be issued and redeemed in large blocks called “Baskets,” each representing 10,000 shares. Initially, this will be handled through cash transactions rather than in-kind transfers of DOGE.

When Will the SEC Approve?

Grayscale applied for the Dogecoin ETF in both March and on August 15, 2025. In the first filing, the SEC publicly acknowledged the application and subsequently delayed its decision, keeping it under review. Now, the application filed on Friday reinforces Grayscale’s commitment to bringing a Dogecoin ETF to market.

Along with Grayscale, companies like Bitwise, Rex Shares, Osprey, and 21Shares are waiting for the SEC Dogecoin ETF approval.

The expected time for the final decision for most DOGE ETF applications is likely to be released between October 2025 to January 2026. The commission is seeking public comments and utilizing its period of review for 240 days before approving.

What is the Market Reaction

DOGE price has significantly surged after the frequent ETF applications. The current price has jumped between 2.5% to 6%, peaking at around $0.2314 and boosting its market capitalization to approximately $34 billion.