Grayscale has filed an S-1 application with the U.S. Securities and Exchange Commission (SEC) for a Dogecoin ETF, marking a significant step towards bringing the meme coin into the regulated ETF space šŸš€. The proposed ETF, named Grayscale Dogecoin Trust ETF, would trade on NYSE Arca under the ticker symbol "GDOG" šŸ“ˆ. This move has sparked excitement in the market, with DOGE price increasing by nearly 2% following the news šŸ’ø.

*Key Highlights:*

- *Grayscale's Filing*: Submitted an S-1 registration statement to the SEC for the Grayscale Dogecoin Trust ETF

- *Trading Details*: The ETF would list on NYSE Arca under the ticker symbol GDOG

- *Market Reaction*: DOGE price surged 2.5% after the filing, currently trading at $0.22976

- *Competition*: Other firms like Rex-Osprey and Bitwise have also filed for Dogecoin ETFs, reflecting growing interest in meme coin-based investment vehicles

This development indicates a growing trend of institutional interest in meme coins and could potentially lead to increased adoption and liquidity for DOGE