Dogecoin ETF One Step Closer to Approval as SEC Accepts Grayscale’s Dogecoin ETF Filing

The U.S. SEC has confirmed the receipt of Grayscale’s Form 19b-4, a regulatory filing seeking approval for a spot Dogecoin (DOGE) exchange-traded fund (ETF). 

The filing marks a shift in how the agency approaches altcoin-based ETFs, as previous applications faced immediate rejection.

Regulatory Shift and Market Reactions

Fox Business reporter Eleanor Terrett highlighted the SEC’s acknowledgment in a tweet, stating the agency has officially received Grayscale’s DOGE ETF filing. 

🚨NEW: The @SECGov has acknowledged @Grayscale/@NYSE 19b-4 application for a $DOGE ETF. pic.twitter.com/rVN7ah6vcs

— Eleanor Terrett (@EleanorTerrett) February 13, 2025

She noted that the SEC’s decision to accept the application indicated a more open-minded approach compared to past rejections of similar products.

Bloomberg ETF analyst Eric Balchunas analyzed the development, emphasizing that this differs from past instances when the SEC swiftly denied altcoin ETF applications. He pointed out that while expectations for approval were already high, the SEC’s acknowledgment increased the likelihood of the ETF moving forward.

Comparison to XRP ETF Filing

ETF Store President Nate Geraci drew attention to the SEC’s acceptance of the XRP ETF filing, expressing surprise that more people were not discussing its significance. He noted that the agency has ongoing litigation with Ripple, making the acceptance of the XRP ETF filing noteworthy.

Bloomberg ETF analyst James Seyffart also commented on the SEC’s shifting stance. He noted that under previous leadership, the agency would not have even acknowledged such filings. He cited Solana ETF applications, which were functionally denied as recently as December, as an example of the SEC’s previous approach.

Dogecoin’s Market Role

Recall that Grayscale announced earlier in January the launch of a trust tracking Dogecoin’s market performance. The product provided institutional and retail investors with exposure to the meme coin through a closed-end trust.

Historically, Grayscale has introduced similar trusts before converting them into ETFs, as seen with Bitcoin and Ethereum.

Later, Grayscale submitted its 19b-4 filing through the New York Stock Exchange (NYSE) to convert the Dogecoin Trust into an ETF. The asset manager highlighted Dogecoin’s expanding role in the crypto sector, stating that it has evolved beyond its meme origins into a functional asset supporting financial inclusion and blockchain-based transactions.