NYSE Arca has filed a 19b-4 form with the SEC to approve a rule change for listing and trading shares of Grayscale’s spot Dogecoin ETF.
ETF Approval Filing
The financial exchange NYSE Arca has filed a 19b-4 form with the Securities and Exchange Commission (SEC) to approve a rule change for listing and trading Grayscale's spot Dogecoin ETF. This development follows Grayscale's announcement of the creation and launch of the Grayscale Dogecoin Trust.
Proposed ETF Details
The proposed ETF would allow investors to gain exposure to Dogecoin without owning it directly. Key players in this arrangement include custodians: Coinbase Custody Trust Company will serve as the custodian, while BNY Mellon will handle administrative and transfer duties.
Grayscale's ETF Expansion Strategy
Grayscale is actively expanding its ETF initiatives. The company recently applied to convert its XRP Trust into an ETF and is pursuing ETFs for major altcoins like Litecoin and Solana.
The 19b-4 filing represents a significant step towards listing the new ETF. Once published in the Federal Register, the SEC has 45 days to decide whether to approve, disapprove, or extend proceedings to evaluate the proposal. If necessary, the review period can be extended up to 90 days.
