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Grayscale is advancing its efforts to establish a Dogecoin exchange-traded fund, disclosing the ticker “GDOG” in its recent filing with the US Securities and Exchange Commission.
Key Takeaways:
- Grayscale has submitted a request to transform its Dogecoin Trust into an ETF under the ticker GDOG on NYSE Arca.
- The SEC is currently evaluating numerous crypto ETF applications amid a more favorable regulatory environment under the Trump administration.
- Ether ETFs achieved a record $17 billion in weekly trading volume as Bitcoin reached $124,000 and ETH approached its peak from 2021.
The firm announced on Friday its intention to rebrand its existing Grayscale Dogecoin Trust to the Grayscale Dogecoin Trust ETF.
If granted approval, the fund would be listed on NYSE Arca, which has already submitted documentation to facilitate the listing. “The Shares are anticipated to be listed on NYSE Arca under the ticker symbol ‘GDOG,’” the filing indicated.
Grayscale Joins Expanding Competition for Crypto ETF Approvals
Grayscale’s application enters a competitive landscape. Rivals Rex-Osprey and Bitwise have also filed for similar offerings as the SEC considers numerous crypto ETF proposals.
Recent submissions encompass a broad range, including funds tracking SOL and XRP, reflecting a changing regulatory atmosphere under the Trump administration.
The SEC’s stance on crypto ETFs has significantly improved over the past year. In July, the agency authorized in-kind creations and redemptions for crypto ETFs and approved applications to list and trade spot Bitcoin and Ethereum ETFs, along with options on certain spot Bitcoin ETPs.
This change follows a significant court victory for Grayscale during the Biden administration, which opened the door for spot Bitcoin ETFs in January 2024 and spot Ether ETFs later that year.
The market for US-based spot Bitcoin and Ether ETFs is currently thriving. ETF analyst Eric Balchunas reported that last week marked the highest trading volume to date, largely driven by increased activity in Ether ETFs.
Weekly Ether ETF volume reached $17 billion, setting a new record, coinciding with Bitcoin’s rise to an all-time high of $124,000 and Ether’s near-return to its November 2021 peak.
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Spot Bitcoin + Ether ETFs recorded approximately $40 billion in volume this week, the largest week ever for them, thanks to a significant increase in Ether ETFs. This figure is equivalent to that of a Top 5 ETF or a Top 10 stock’s volume. pic.twitter.com/Z89uV63A3w
— Eric Balchunas (@EricBalchunas) August 15, 2025
Ether ETFs have attracted over $3 billion in net inflows in the first half of August alone, marking their second-strongest month since inception.
Balchunas observed that these products had been “asleep” for nearly a year before compressing a year’s worth of trading into a span of six weeks.
Bitcoin ETFs Reach $73.6K as Analysts Draw Comparisons to Ether Rally
Bitcoin ETFs have also reached new heights, with prices hitting $73,679 within two months of their launch earlier this year.
Analysts are drawing parallels between Ether’s current surge and Bitcoin’s increase following its ETF introduction.
“This movement is similar to the BTC ETF launch, when Bitcoin continued to rise,” stated MN Trading Capital’s Michaël van de Poppe, forecasting further gains for altcoins.
$ETH has surged more than 100% in less than two months.
This movement is akin to the $BTC ETF launch, when #Bitcoin continued to rise.
We are likely to see a new ATH for $ETH followed by some consolidation.
There is much more to come for this cycle. pic.twitter.com/Ah4hZkPecK— Michaël van de Poppe (@CryptoMichNL) August 12, 2025
However, some caution that Ether’s all-time high may not be reached immediately. Nansen’s Jake Kennis indicated it could take weeks or months, even with ETH now just a few hundred dollars away from a new record.
Meanwhile, the SEC has extended its review period for two Solana ETF filings to October 16, 2025.
The SEC stated that the extension provides “sufficient time to consider” the Solana ETF proposals from Bitwise and 21Shares, which were initially due on August 17.
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