Dogecoin ETF: Grayscale Barks Back as Meme Coins Go Mainstream 🐶💰

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In a move as predictable as a Moscow winter, Grayscale has once again shuffled its papers, filing an amended S-1 to transform its Dogecoin Trust into a listed exchange-traded fund. 📰✨

This bureaucratic ballet comes mere weeks after their initial application, a testament to the endless waltz between financial firms and regulators. Ah, the SEC-ever the cautious chaperone at this crypto debutante ball. 💃🕺

Grayscale’s Dogecoin ETF: A Tale of Persistence and Paperwork

Should the stars align (and the SEC nod approvingly), the fund will prance onto NYSE Arca under the ticker GDOG. Yes, GDOG. Because nothing says “financial innovation” like a ticker that sounds like a pet store. 🐕 Coinbase, ever the loyal companion, will serve as both prime broker and custodian. Loyalty, after all, is a rare gem in this fickle market.

“The Trust’s purpose is to hold ‘DOGE’, a digital asset birthed by the whims of the internet and transmitted through the mystical Dogecoin Network-a decentralized congregation of computers speaking in cryptographic tongues,” the filing solemnly declares. 📜🤓

This amendment is Grayscale’s way of saying, “We too can meme our way to the top,” as rivals like Rex Shares’ Osprey ETF bask in the glow of record-breaking debuts. FOMO, thy name is finance. 😅

Speaking of debuts, Osprey’s Dogecoin ETF (DOJE) sprinted out of the gate like a greyhound chasing a mechanical rabbit, trading nearly $6 million in its first hour and closing at $17 million. Bloomberg’s Eric Balchunas, ever the chronicler of financial follies, noted it ranked among the top five ETF debuts of 2025. Not bad for a coin born from a joke. 🤡💸

GDLC’s Modest Triumph in the Crypto Circus

Meanwhile, Grayscale’s CoinDesk Crypto 5 ETF (GDLC) tiptoed into the market, tracking the five largest cryptocurrencies with all the subtlety of a bear in a ballet class. It attracted $22 million on its first day-a solid showing, though hardly a standing ovation. 🩰💎

$GDLC (the first spot crypto ‘5’ basket ETF) did $22m on its first day as an ETF. Really solid. $DOJE did $12m and $XRPR did $15m. All of them crush the avg ETF launch altho far cry from bitcoin. Still, gotta be happy with that if you are those issuers. 🎉📈

– Eric Balchunas (@EricBalchunas) September 19, 2025

Balchunas, ever the pragmatist, reminded us that while these numbers don’t rival Bitcoin’s blockbuster launches, they still outpace the average ETF debut. Investors, it seems, are warming to regulated crypto baskets-a step up from the wild west of decentralized finance. 🌵👮

And let’s not forget the SEC’s latest gift to the industry: the Generic Listing Standard for crypto ETFs. This rule, designed to expedite approvals, could unleash a flood of over 100 new applications within a year. Brace yourselves, for the crypto ETF wars are upon us. ⚔️🚀

In the end, as the market dances to the tune of speculation and regulation, one thing is clear: meme coins are no longer just a punchline. They’re a phenomenon-and Grayscale is determined not to be left howling at the moon. 🌕🐺

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2025-09-20 15:17