Grayscale submits a revised Dogecoin ETF application, NYSE Arca also seeks to modify its Ethereum trust structure

According to the latest disclosures, Grayscale has submitted a revised S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on September 19, planning to convert its closed Dogecoin Trust into an exchange-traded fund (ETF). If approved, the fund will be listed on Arca on the New York Stock Exchange under the trading code "GDOG" and designate Coinbase as its main broker and custodian. On the same day, New York Stock Exchange Arca also submitted a proposal to modify the listing terms of the Grayscale Ethereum Trust ETF and its "mini version" trust in accordance with the newly approved "General Listing Standard" by the SEC. The new standard means that this type of product will undergo relatively loose regulatory review. In the application, Grayscale cites new regulations and points out that Dogecoin has conducted futures and options trading on exchanges regulated by the U.S. Commodity Futures Trading Commission (CFTC) for more than six months, meeting relevant requirements. The company also stated that the trust should not be regarded as an "investment company" as defined in the Investment Companies Act 1940 and is therefore not subject to it. If GDOG is approved, it will become the second batch of securitized products in the United States to directly track Dogecoin prices. On Thursday, the Dogecoin ETF (DOJE) jointly with REX and Osprey was just approved for listing.