The US Securities and Exchange Commission (SEC) recently acknowledged Grayscale’s proposal for a Dogecoin (DOGE) exchange-traded fund and is currently interested in receiving public comments.
In a 19b-4 form shared this past Thursday (February 13, 2025) confirming NYSE Arca‘s filing, on behalf of Grayscale, the SEC has now requested for such comments to be turned in 21 days after being shared via the Federal Register.
And after that, the US regulatory authority may decide whether or not to approve / disapprove or “institute proceedings.”
A 19b-4 filing is the second part of a process for formally proposing a spot cryptocurrency-based ETF (exchange traded fund).
After the SEC confirms the filing, it may be shared via the Federal Register, initiating the regulatory authority’s approval process.
Grayscale had introduced the Dogecoin Trust back in January and has stated that the digital token has “transitioned” from a joke / memecoin of a Shiba Inu to a tool for enabling global financial inclusion, as well as supporting more grassroots activism, and even a “viable means of payment.”
DOGE is notably one of the largest cryptocurrencies in terms of market cap, according to CoinMarketCap and CoinGecko data.
Interestingly, Dogecoin (DOGE) was created as a sort of fun-themed alternative to Bitcoin and during the past few years, Tesla and SpaceX founder Elon Musk has become one of Dogecoin’s most prominent supporters.
It was also revealed on Thursday (February 13, 2025) that the SEC has formally acknowledged NYSE Arca’s 19b-4 form, on behalf of digital assets firm Grayscale, for the Grayscale XRP Trust.
Recently, several other companies have formally proposed a range of crypto ETFs from Solana (SOL) to Dogecoin in order check/gauge if the SEC will decide to eventually approve these.
The regulator has changed its approach towards the industry after ex- SEC Chair Gary Gensler departed this past month.
Gensler has become well-known all over the world for being a very strong skeptic of crypto, referring to most virtual currencies as securities.
Notably, the US regulator had approved the listing of spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs as well.