Grayscale has filed for trading and listing shares of a Dogecoin ETF to increase investor exposure to the eighth-largest cryptocurrency by market capitalization.
This filing has been accepted by the US Securities and Exchange Commission (SEC). This implies that investing in Dogecoin through retirement accounts and other conventional investment options may soon be possible.
Dogecoin ETF: What Is It?
The Dogecoin exchange-traded fund (ETF) is a legal financial tool that tracks DOGE’s market performance without requiring investors to hold the cryptocurrency directly. Dogecoin ETFs issue shares representing the cryptocurrency’s price changes while holding DOGE reserves.
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Like stocks, trading these shares is possible anytime, giving the cryptocurrency market more liquidity and allowance for price discovery. Billy Markus and Jackson Palmer developed Dogecoin, a decentralized cryptocurrency, in 2013. As one of the first meme coins, Dogecoin has expanded to become a popular digital currency.
Dogecoin ETF Approval: When Can It Be Bought?
Grayscale submitted a filing to the SEC on January 31, 2025, to list its Dogecoin Trust shares by the NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares). This rule regulates the registering and trading of Commodity-Based Trust Shares on the New York Stock Exchange (NYSE).
A 21-day public comment process for any potential rule change and listing began on February 13, 2025, after the SEC formally accepted Grayscale’s submission into the Federal Register. The SEC will approve, reject, or start a review process to determine whether to deny the proposal within 45 days of recognizing it or for 90 days.
If necessary, they could announce that they need additional time. Hence, it might be months before a spot Dogecoin ETF is available for trading by interested investors. The approval of the ETF S-1 registration statements is the second step in a two-phase approval procedure that begins with the exchange applications.
How To Buy Spot DOGE ETFs Upon Approval
Here is a step-by-step process you can use to buy a Dogecoin ETF once it is approved;
Pick an exchange platform, then create an account. Once you have chosen a preferred exchange platform for your ETF purchases, fill in your details and register. Verify your payment information. Use a credit card, debit card, or bank transfer to fund your account.
Identify and analyze ETFs. Look for the ETF trading symbol on the platform. The most recent information should be available on the platform.
Buy your ETF shares. When making your ETF purchase, you can set a limit or market order for the number of shares you want.
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The entire procedure can be completed in as little as fifteen minutes. However, you will need a computer or smartphone, an internet connection, a driver’s license or passport, and a payment method to complete these steps.
Potential Impact of Dogecoin ETFs on DOGE Price
Although many traditional financial firms still do not allow direct crypto investment, most will start to offer authorized spot Dogecoin ETFs, similar to what they have done with spot Ethereum and Bitcoin ETFs. Based on previous market analysis, the Dogecoin ETF approval and launch could result in significant price growth; the most bullish forecasts suggest possible increases of up to $15 per DOGE.
This prediction corresponds with past trends shown during the early 2024 debut of the Bitcoin ETF. This prediction implies that Dogecoin’s market capitalization would surpass Bitcoin, reaching almost $2.2 trillion.
Nevertheless, approval of the Dogecoin ETF is expected to affect the memecoin’s price favorably. DOGE’s current price of $0.33 shows encouraging signs, having increased by 127% since Trump’s victory.
The possible price spike after a Dogecoin ETF approval might push the cryptocurrency’s price toward the critical resistance levels of $0.566 and $0.480.
Conclusion
The Dogecoin ETF has the potential to change DOGE’s market performance. The ETF launch could cause significant market activity since institutional investors become willing to invest.
Like Bitcoin and Ethereum, DOGE might note increased investor interest and better market maturity. However, quick profits are not a guarantee.
