Grayscale Eyes Dogecoin ETF Amid SEC Review Delays
Grayscale Submits Dogecoin ETF Application
Grayscale has officially entered the race for a spot Dogecoin (DOGE) ETF, submitting an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC). This development adds to the growing list of meme-coin-focused investment products seeking regulatory approval.
The filing comes amidst a flurry of activity in the ETF space. The SEC recently delayed decisions on spot Solana ETF applications from firms like Bitwise, 21Shares, and VanEck. Interestingly, a separate Dogecoin ETF proposal from 21Shares also faced delays.
Meme Coins and Institutional Interest
Grayscale's move highlights the increasing institutional interest in meme coins. Several other meme-coin ETF proposals, including those focused on TRUMP, BONK, and Pudgy Penguins, are currently under SEC review. This surge suggests a broader trend of bringing meme-coin funds into the regulated ETF market.
DOGE Price Action Remains Rangebound
Despite the excitement surrounding ETF prospects, Dogecoin's price performance has been relatively subdued. Compared to its 2021 peak above $0.72, DOGE has traded within a narrow range of $0.15 to $0.25 since the beginning of the year.
According to CoinGecko data, DOGE was last trading at $0.228. The market awaits a significant breakout or breakdown to establish a clearer trend.
Key Takeaways
- Grayscale filed an S-1 with the SEC for a spot Dogecoin ETF.
- The move reflects rising institutional interest in meme coins.
- DOGE's price remains rangebound despite ETF developments.