Grayscale files spot Dogecoin ETF a day after SEC delays 21Shares proposal

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Key Takeaways

Grayscale submitted an S-1 to the SEC for a spot Dogecoin ETF, adding to growing institutional interest in meme coins.
DOGE price remains rangebound despite ETF developments, last trading at $0.228 according to CoinGecko.

Grayscale has filed an S-1 registration statement with the US Securities and Exchange Commission seeking approval for a spot Dogecoin ETF.

The move adds another Dogecoin ETF to the slate already under SEC review, including filings from Bitwise and REX-Osprey. Other meme-coin ETF proposals under review include TRUMP, BONK, and Pudgy Penguins, underscoring the growing institutional push to bring meme-coin funds into the regulated ETF space.

The filing comes a day after the SEC delayed decisions on several Solana ETF applications from Bitwise, 21Shares, and VanEck, as well as a separate Dogecoin ETF proposal from 21Shares.

Dogecoin has been underwhelming in the current cycle compared to its 2021 mania peak, when it briefly traded above $0.72. Since the start of the year, DOGE has mostly moved sideways in a narrow $0.15 to $0.25 range, with no major breakouts or breakdowns. It was last changing hands at $0.228, according to CoinGecko data.