Grayscale Preparing to Launch Dogecoin ETF: 75% Likelihood of SEC Approval in 2025
Date: 2025-08-18 Author: Oliver Abernathy Categories: BUSINESS
Grayscale has filed documents with the SEC to convert the Grayscale Dogecoin Trust into an exchange-traded fund. If approved, the new product will receive the ticker GDOG and will be traded on the NYSE Arca. The fund's assets currently amount to about $2.5 million.
According to the S-1 filed on August 15, the purpose of the ETF is to provide investors with the opportunity to monitor the dynamics of Dogecoin without buying the coin directly. Grayscale Investments Sponsors and Grayscale Operating will work on the project, and CSC Delaware Trust Company will be responsible for trust management. BNY Mellon will assume the functions of administrator and transfer agent, and Coinbase and Coinbase Custody Trust Company will be responsible for brokerage and custody operations.
Grayscale is not the only company looking to launch such a fund. Rex-Osprey and Bitwise have also filed for a Dogecoin ETF, which indicates a growing interest in products related to memecoins. However, the SEC has not yet approved any such instrument, being cautious about altcoins. Unlike in the US, such products are already popular in Europe.
Dogecoin, which appeared as a joke project in 2013, has over time become one of the largest digital assets by market capitalization. Its success is largely due to the support of the community, the activity of retail traders and the influence of Elon Musk. Today, DOGE is accepted as a means of payment by a number of companies and is included in corporate reserves, which underlines its gradual institutionalization.
However, the project still has its weaknesses. High volatility and limited use cases compared to Bitcoin and Ethereum may raise doubts among regulators. However, the current political climate in the US is favorable for the development of the crypto industry, which increases the chances of a positive decision.
Polymarket platform estimates the probability of the SEC giving the green light to the Dogecoin ETF by the end of 2025 at 75%. If the fund is indeed approved, it could become an important tool connecting retail DOGE holders with institutional investors. According to analysts, this could bring the memecoin to a new level of recognition in the financial system.
Thus, Dogecoin may get a foothold in the traditional investment environment, which will be a significant step for the entire cryptocurrency industry.
