NYSE files to list and trade Grayscale’s spot Dogecoin ETF

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NYSE Arca has filed a 19b-4 form with the SEC, seeking approval for a rule change to list and trade shares of Grayscale’s spot Dogecoin ETF. The move comes swiftly after Grayscale announced the launch of its Dogecoin Trust earlier today.

“Similar to Bitcoin and Litecoin, DOGE can be used to pay for goods and services or can be converted to fiat currencies, such as the U.S. dollar, at rates determined on Digital Asset Trading Platforms or in individual end-user-to-end-user transactions under a barter system. Additionally, DOGE is used to pay for transaction fees to miners for verifying transactions on the Dogecoin Network,” the filing read.

The proposed ETF would provide investors with Dogecoin exposure without direct ownership requirements. Coinbase Custody Trust Company would serve as custodian, while BNY Mellon would handle administration and transfer agent duties.

The 19b-4 filing is a regulatory requirement for new ETF listings. The SEC has 45 days from Federal Register publication to review the filing and make a decision. The regulator can approve, disapprove, or initiate proceedings to determine whether to disapprove the rule change. This review period may be extended to 90 days if the SEC provides reasoning or if NYSE Arca agrees.

Grayscale has expanded its ETF initiatives, recently applying to convert its XRP Trust into an ETF and pursuing ETFs tied to other major altcoins like Litecoin and Solana.

The asset manager secured regulatory approvals for spot Bitcoin and Ethereum ETFs last year, following a landmark legal victory in August 2023 when a court ruled the SEC’s previous rejection of Grayscale’s spot Bitcoin ETF proposal as “arbitrary and capricious.”

The firm had initially contested the SEC’s decision in 2022 after the regulator rejected its proposal to convert the GBTC fund into a spot Bitcoin ETF.

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