Overview

• Grayscale submitted a Form S-1 on August 15 to convert its existing Dogecoin Trust into a spot ETF that would trade under the ticker GDOG on NYSE Arca if approved.
• The filing designates Coinbase Custody Trust Company as the sole custodian for the fund’s Dogecoin holdings and requires cash-settled share creations in batches of 10,000 shares.
• The proposed fund would operate as a passive investment vehicle with no leverage, derivatives or active trading and would track the CoinDesk Dogecoin Reference Rate before fees.
• Prediction markets and analysts have raised approval probabilities to roughly 65–75% as the SEC review progresses.
• Competing applications from Bitwise, REX/Osprey and 21Shares are also under review, intensifying the race to launch the first spot Dogecoin ETF.