Formerly considered a mirage, the prospect of an ETF of Dogecoin took on a massive momentum when the gray scale enters the race.
Friday, the main manager of digital assets made quick steps to enter into The race for a fund negotiated in exchange for Dogecoin (ETF). Gray levels announcement The launch of a trust according to the performance of the memes piece earlier during the day.
The product has offered institutional and detail investors access to a closed end trust which has an alternative exhibition to the main piece of memes. In particular, the investment vehicle was generally the first Graycale game card in the launch of an ETF, as seen with Bitcoin and Ethereum.
Gray files to convert confidence to ETF
As a rule, in gray levels subject A 19B-4 file to the American Securities and Exchange (SEC) commission later during the day To convert the recently launched Dogecoin trust. The asset manager applied through the New York Stock Exchange (NYSE).
Update: it was fast. @Grayscale launched a doge Trust earlier during the day and they just placed a 19b-4 to convert it to ETF pic.twitter.com/iu64neipsy
– James Seyffart (@jseyff) January 31, 2025
In a press release, Gray levels highlighted the changing tides of the Dogecoin ecosystem as a driving factor for the application. He suggested that the largest piece of memes by market capitalization has transcended its origin on the theme of jokes to become a full asset in the crypto industry.
In particular, the play even on the theme of the dog has passed to a global tool for financial inclusion, basic participation and a viable means for colonies based on blockchain.
A wave of ETF applications
Meanwhile, Dogecoin’s ETF application reflects a wider burst of ETF deposits among asset managers. In particular, this new reality appeared following the election of the American Pro-Crypto President Donald Trump.
The president has refreshed things in the regulatory sphere, start note Paul Atkins As a new dry chair and a IA and CSAR Crypto. Its generally friendly position towards the digital asset sector softened the former caudal industry, obvious in the last deposits of the FNB.
Bitwise was one of the first to ask for a Dogecoin ETF, deposit For the investment product earlier this week. The application followed other submissions, which sparked skepticism among notable market analysts.
For the context, Tuttle Capital subject A 2X stock market negotiated fund for XRP, Cardano and Litecoin on Monday. What attracted the attention of Bloomberg’s analyst, James Seyffart, is that the application requested the leverage product for BNP coins and even like Trump, Melania and Bonk.
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