📊 Grayscale’s Dogecoin Trust began trading on the NYSE Arca under the ticker GDOG, giving U.S. investors regulated spot exposure to DOGE.@jennsanasie brings you "Chart of the Day," presented by @cryptocom. https://t.co/Gb30I19BPE ...

Core Insights - Grayscale's Dogecoin ETF is expected to launch as early as November 24, following a 20-day SEC review period initiated by its registration filing [1] - Bitwise is also pursuing automatic approval for its Dogecoin ETF, indicating a growing institutional interest in meme coins [1] - The SEC's acknowledgment of these filings marks a significant shift in regulatory oversight, with multiple asset managers now competing to include Dogecoin in traditional investment portfolios [1] Regulatory Process - The expedited approval timeline is due to Section 8(a) of the Securities Act of 1933, which allows registration statements to automatically become effective 20 days post-filing unless the SEC intervenes [2] - Grayscale and Bitwise are leveraging this provision to bypass the more complex 19b-4 exchange rule procedure typically required for ETF launches [2][3] - The SEC's official guidance confirms that registration statements gain automatic effectiveness under Section 8(a) after 20 days, facilitating quicker product launches amid rising institutional interest in cryptocurrency [3] Institutional Developments - Grayscale launched its Dogecoin Trust on January 31, 2025, as a precursor to the ETF application, allowing investors to gain exposure to Dogecoin without direct ownership [4] - This Trust addresses custody and security concerns that have previously deterred institutional investors [4] Commodity Classification - Dogecoin's likely classification as a commodity rather than a security significantly enhances its approval prospects [5] - This classification helps avoid legal complications that have hindered ETF efforts for other cryptocurrencies like Solana and XRP, where the securities status is still debated [6] - The Federal Register filing for NYSE Arca's proposed rule change specifically references Dogecoin under Rule 8.201-E, which pertains to "Commodity-Based Trust Shares" [6]

ETF Application - Grayscale has filed an amended S-1 to convert its Dogecoin Trust into an ETF [1] - The proposed ETF will trade under the ticker GDOG [1]