🔥 LATEST: Grayscale has filed an amended S-1 to convert its Dogecoin Trust into an ETF under ticker GDOG. https://t.co/NSSbaOADJb ...

Group 1 - Grayscale has submitted an application for a Dogecoin spot ETF, marking the first such application for a meme coin in the U.S. market, indicating a significant step for meme coins into traditional finance [2] - The proposed ETF, under the ticker GDOG, will exclusively hold Dogecoin and will be managed by Coinbase Custody Trust Company, with a cash creation and redemption process [2] - The SEC has classified meme coins as "collectibles" rather than securities, which may facilitate the approval process, although the agency has shown a cautious approach in reviewing other crypto ETFs [2] Group 2 - Following the announcement, Dogecoin's price experienced a mild increase of approximately 2% to 2.5%, remaining within the range of $0.15 to $0.25 for the year [3] - Other institutions, including Bitwise and 21Shares, have also filed applications with the SEC, indicating a growing interest in meme coins among institutional investors [3] - If GDOG is successfully listed, it would represent a significant milestone for meme culture entering mainstream finance and test the regulatory balance between emerging assets and investor protection [3]