Grayscale Shakes Up Crypto Market: Files for First-Ever U.S. Spot Dogecoin ETF

Wall Street's meme coin moment has arrived—Grayscale just dropped a regulatory bombshell.

The digital asset manager filed paperwork for the first U.S. spot Dogecoin ETF, forcing institutional investors to take the joke cryptocurrency seriously. Again.

Breaking the meme ceiling

This isn't 2021 anymore. DOGE's trading volume has flatlined since its last bull run, but Grayscale sees blood in the water—the same firm that won its landmark Bitcoin ETF case against the SEC is now betting the house on crypto's original meme coin.

The filing comes exactly four years after Dogecoin's infamous 10,000% pump. Coincidence? Probably not. Traders are already front-running the news, with DOGE futures open interest spiking 47% in the last hour.

Wall Street's new reality: when in doubt, meme it out. Because nothing says 'serious financial instrument' like a cryptocurrency literally created as a joke. The SEC's Gary Gensler must be having conniptions.

Grayscale has officially submitted an S-1 filing to launch the first U.S. spot Dogecoin exchange-traded fund (ETF) under the ticker symbol “GDOG”. If approved, the product would give investors direct exposure to Dogecoin through a regulated market instrument, marking a major step for the memecoin’s mainstream adoption. This move also expands Grayscale’s growing lineup of crypto-focused investment products, reinforcing its role as a leading player in bridging digital assets with traditional finance.