Grayscale seeks nod from US SEC for Dogecoin ETF under the ticker 'GDOG'
Quick Take In a registration statement filed on Friday, Grayscale said it was renaming the Grayscale Dogecoin Trust to the Grayscale Dogecoin Trust ETF. “The Shares are expected to be listed on NYSE Arca under the ticker symbol ‘GDOG,’” according to Friday’s filing.
Grayscale is forging ahead with its proposal to list and trade an exchange-traded fund that trades Dogecoin, landing on the ticker symbol "GDOG," according to the latest filing.
In a registration statement filed on Friday, Grayscale said it was renaming the Grayscale Dogecoin Trust to the Grayscale Dogecoin Trust ETF.
If approved by the U.S. Securities and Exchange Commission, the fund would trade on NYSE Arca, which previously filed a form for the Grayscale Dogecoin Trust.
"The Shares are expected to be listed on NYSE Arca under the ticker symbol 'GDOG,'" according to Friday's filing.
Grayscale is not alone in vying for the SEC's sign-off for such a fund. Both Rex-Osprey and Btiwise have made similar filings. This comes as the agency is weighing dozens of different types of crypto ETFs from ones tracking SOL to XRP in the wake of a friendlier presidential administration.
The SEC's stance toward crypto overall has changed significantly over the past year, specifically when it comes to ETFs as well. In July, the agency voted to approve orders to allow in-kind creations and redemptions by authorized participants for crypto ETFs. The agency also then allowed applications looking to list and trade spot bitcoin and Ethereum ETFs and as well as options on "certain spot bitcoin ETPs."
During the Biden administration, the SEC greenlighted spot bitcoin ETFs and later Ethereum ETFs, following a pivotal court ruling brought by Grayscale.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Musk on chip production: China's large-scale manufacturing capacity often exceeds the sum of all other regions worldwide
After ChangXin Memory Technologies announced a key breakthrough in DDR5 server memory, the Philadelphia Semiconductor Index in the US stock market fell 2.7% overnight, with shares such as Micron and SK Hynix ADR dropping collectively. Musk commented on this trend, saying that when China figures out the manufacturing method of a product, its ability to scale production often exceeds that of the rest of the world combined, and stated that "China seems to be rapidly conquering" general standard specifications such as LP5 and LP6.
IREN reports $702.6 million net loss despite $4 billion in AI cloud contracts
The current AI frenzy: featuring both "Tech and Internet" and "Real Estate" bubble characteristics, reminiscent of the 2008 global capital cycle
This wave of the AI boom exhibits dual characteristics: On a micro level, the heavy-asset nature of AI data centers is driving the industry toward "real estate-like" debt financing models, such as corporate bonds, private credit, and computing power ABS. On a macro level, nearly $2 trillion in overseas excess savings is flowing into core AI assets in the U.S. stock market through private institutions, reconstructing a transnational capital cycle reminiscent of the period before the 2008 subprime mortgage crisis. With nearly $3 trillion in off-balance sheet debt and rising interest rates, the industry is facing an impending major liquidity test.
AI Trading Faces a "Vulnerable Moment"! Japan and South Korea Stock Markets Experience "Black Tuesday" as SK Hynix, Samsung, and SoftBank Plunge Together
On Tuesday, Asian tech stocks faced a new round of systemic sell-off as the overnight weakness in the US semiconductor sector spread to the Asia-Pacific market. Concerns intensified over increasingly fierce competition due to the technological breakthrough by Chinese memory chip manufacturer ChangXin Memory Technologies, as well as worries about the returns on AI capital expenditure and the overall financing environment.
Crypto prices
More
