Grayscale Files for Spot Dogecoin ETF With NYSE
In the latest development, the New York Stock Exchange Arca owns Lift With the SEC’s 19B-4 form, the rules of GrayScale’s spot Dogecoin ETF were approved. This is after GrayScale announced and launched GrayScale Dogecoin Trust.
The proposed ETF will allow investors to get in touch without directly having Dogecoin. It is worth noting that Coinbase’s guardian trust company will be the custodian, and BNY Mellon will be responsible for administrative and transferring duties.
It is important to note that the 19B-4 file is the key step of the new ETF list. After the SEC was released at the Federal Bulletin, it took 45 days to review and decide whether to approve it. It did not agree with or filed a lawsuit to change the rules. If necessary, if the SEC provides reasoning or NYSE ARCA consent, the review period can be extended to 90 days.
GrayScale is strengthening its ETF work because it recently applied to converting its XRP trust to ETF and is pursuing ETFs for major Altcoins such as Litecoin and Solana.
