Grayscale Investments is moving ahead with its plan to bring Dogecoin (DOGE) into the world of traditional finance. The company has filed a proposal to launch an exchange-traded fund (ETF) that will track the price of memecoin. If regulators approve the recently submitted proposal, it would allow investors to access it in a regulated way through traditional stock exchanges. This would give Dogecoin a bigger place in the mainstream crypto market. Grayscale Turns Dogecoin Trust into a Tradable Fund In its latest registration statement filed on August 15, Grayscale revealed that it is renaming its existing Grayscale Dogecoin Trust to the Grayscale Dogecoin Trust ETF. The move follows the path the company has taken with other digital assets. It has turned its private trusts into fully tradable, regulated ETFs. According to the filing, shares of the new Dogecoin fund are set to be listed on NYSE Arca under the symbol GDOG. The proposal is still pending the U.S. Securities and Exchange Commission (SEC) approval. Rising Competition in the Race for Crypto ETFs Grayscale, making efforts to become a public company , is not the only company trying to launch a Dogecoin ETF. Other firms, like Rex-Osprey and Bitwise, have also filed for approval, showing that competition in the sector is growing. Dogecoin started as an online joke, but it has grown into one of the most well-known cryptocurrencies today. A regulated ETF would be another step in turning DOGE from a memecoin into a mainstream investment. Also, the regulatory agency is looking at ETF proposals for digital coins like Solana (SOL) and XRP . This rise in applications shows that more people want easy and regulated ways to invest in crypto. For many investors, ETFs offer a safer and simpler option to invest in digital assets without worrying about wallets or private keys. SEC Becomes More Open to Crypto ETFs Reportedly, the chances of approval are higher now than they were a year ago. The SEC has become less strict about crypto ETFs after many years of saying no. In July, the agency approved a rule that lets crypto ETFs use in-kind creations and redemptions. This came after other big steps under the Biden administration. In early 2024, the SEC first approved spot Bitcoin ETFs and later gave the same approval to Ethereum ETFs. These moves followed a major court win by Grayscale, which pushed the SEC to rethink its earlier rejections. Now, with many crypto ETF applications waiting for review, the SEC seems more willing to approve products that once looked unlikely. The post Grayscale Bets Big on Dogecoin With New ETF Plan appeared first on TheCoinrise.com .
