NYSE Arca Files for Dogecoin ETF Approval with SEC
NYSE Arca has submitted a 19b-4 filing to the SEC for approval to list and trade Bitwise's Dogecoin ETF. Key points include:
- Coinbase Custody will manage the ETF's Dogecoin holdings.
- The Bank of New York Mellon will oversee cash assets and administration.
- The ETF will primarily hold Dogecoin, with its Net Asset Value calculated daily using the CF Dogecoin-Dollar Settlement Price.
- Other firms, including Grayscale and Rex Shares, have also filed for a Dogecoin ETF; Grayscale’s application is further along in the review process.
- Market sentiment for approval has improved, with Polymarket indicating a 67% probability, up from 55% previously.
- Bloomberg analysts predict a 75% chance of approval by 2025.
- Despite optimism, DOGE's price has recently decreased by nearly 16%, with trading volume down 17%.
This filing reflects increased regulatory interest, but the volatility of meme coins remains evident.