Grayscale has taken another step in expanding its product portfolio, filing an amended S-1 to convert its Dogecoin Trust into a listed exchange-traded fund (ETF).
The amendment comes just weeks after the initial filing and reflects ongoing discussions with regulators about how a Dogecoin ETF might fit into the SEC’s evolving regulatory framework for digital assets.
Grayscale Updates Filing for Dogecoin ETF
If the proposal is approved, the fund will trade on NYSE Arca under the ticker GDOG, with Coinbase selected as the prime broker and custodian.
“The purpose of the Trust is to hold “Doge,” which are digital assets created and transmitted through the operation of the peer-to-peer Dogecoin Network, a decentralized computer network that operates on cryptographic protocols,” the filing said .
This revision reflects Grayscale's intention to keep up with competitors, especially as investor demand for meme-coin-linked vehicles is growing.
That urgency was evident inRex Shares' Osprey Dogecoin ETF, which attracted massive interest upon launch.
Bloomberg analyst Eric Balchunas reports that DOJE traded nearly $6 million in its first hour and closed with $17 million in volume, ranking it among the top five ETF launches of 2025.
This strong showing shows that speculative assets like Dogecoin can still generate strong demand when offered through regulated products.
GDLC launches strongly in the market
Notably, Grayscale’s launch of the CoinDesk Crypto 5 ETF (GDLC) has reinforced the growing interest in the cryptocurrency market.
The fund, designed to track the five largest cryptocurrencies by market Capital , attracted $22 million on its first day of trading.
Balchunas noted that while these numbers are not yet a record for Bitcoin ETFs, they are still far above the Medium for ETF launches, underscoring investors’ growing willingness to allocate through managed crypto baskets.
Meanwhile, this result also fits with broader regulatory developments that have made the emerging industry attractive.
The SEC recently introduced Common Listing Standards for crypto ETFs, a rule designed to shorten approval times and bypass the traditional 240-day waiting period for filings that meet core requirements.
Market analysts believe the adjustment could unlock more than 100 new applications within a year, creating conditions for fiercer competition among issuers.
