The firm says the ETF is designed to give investors exposure to DOGE without having to hold the asset directly. Coinbase Custody Trust Company is named as the custodian for the fund’s underlying crypto. Shares would be created and redeemed in “basket” sizes of 10,000 shares, with cash creations and redemptions at launch (rather than in-kind DOGE transfers).
According to the filing, the fund’s value will reference CoinDesk’s market data for Dogecoin, with the usual adjustments for fees and liabilities. Grayscale also outlines familiar risk factors: DOGE’s high volatility, evolving crypto regulation, and potential competition from other digital assets. The company notes its application aligns with updated NYSE listing standards that took effect on January 31, 2025—but stresses trading will only begin after the SEC signs off.
The market reacted quickly. Following the submission, DOGE climbed more than 2.5%, rising from $0.2239 to $0.2334. The coin is up 2.67% over the past week and 14.65% over the past month, bringing its market capitalization to $35.13 billion.
The SEC, meanwhile, has postponed decisions on multiple Solana spot ETF proposals from Bitwise, 21Shares, and VanEck, and also delayed a separate 21Shares Dogecoin ETF application. In contrast, Ether spot ETFs continue to draw heavy interest: per Farside Investors, U.S. spot ETH ETFs recorded a record net inflow of over $1 billion on August 11.
Earlier, FORECK.INFO reported on Circle’s push to launch its own Arc blockchain as part of a broader strategy to diversify revenues beyond U.S. Treasuries