The registration, submitted this week, introduces the new name “Grayscale Dogecoin Trust ETF” with the ticker “GDOG.” According to Grayscale‘s SEC filing, the trust’s goal is for shares to track the value of dogecoin (DOGE) held in the fund, minus expenses, using a benchmark price as a reference.

Set up as a Delaware statutory trust, the fund will hold DOGE directly and plans to issue shares on an ongoing basis once effective. The critical piece, however, is SEC approval of NYSE Arca’s rule change request (the 19b-4 Application). The filing makes it clear the trust “will not seek effectiveness of this registration statement…unless and until such approval is obtained.”

The application is still under review. At launch, shares can only be created or redeemed through cash orders handled by liquidity providers, rather than in-kind DOGE transfers. The filing points to ongoing regulatory questions around broker-dealer management of digital assets as the reason, though it notes NYSE Arca may pursue approval for in-kind creations and redemptions later.

The trust intends to charge a 0.75% annual sponsor’s fee, accrued daily and paid in DOGE. As of June 30, 2025, dogecoin’s market capitalization stood at $24.8 billion, ranking it ninth among digital assets. By Aug. 17, DOGE climbed to the eighth spot with a $35.09 billion valuation. The filing also details how the index price will be calculated and which exchanges will be used.

It’s a formal step forward in the race to bring a spot Dogecoin ETF to market, with the SEC holding the final say. Grayscale joins Bitwise, Rex Shares (Osprey), and 21shares, who also have spot dogecoin ETF applications before the SEC. Decisions on these filings are expected by late 2025 or early 2026.

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