This is the GDOG fund issued by the Grayscale company.
It’s a “highly symbolic launch,” says Nate Geraci.
The Grayscale firm launches this Monday, November 24, the first cash exchange-traded fund (ETF) (spot) of dogecoin (DOGE) on the New York Stock Exchange (NYSE Arca).
Under the ticker GDOG, the Grayscale Dogecoin Trust ETF allows investors to gain exposure to the price of memecoin, without needing to purchase or store DOGE on their own.
A spot ETF (spotin English) is one whose value reflects the price of the underlying asset in real time, unlike products based on futures or derivatives. This new fund is born from the conversion of the Grayscale Dogecoin Trust, which until now operated as a private placement vehicle exclusively for accredited investors. Now, it is listed publicly on the NYSE Arca regulated market, which improves its liquidity and opens the door to retail and institutional investors.
The launch of the ETF has not had a major impact on the price of DOGE, which has only had a 0.14% increase in its price in the last 24 hours.
Dogecoin already had a certain presence on Wall Street with products issued by REX Shares and Osprey Funds, as reported by CriptoNoticias. The fundamental difference lies in the regulatory structure.
These previous ETFs are organized under the Investment Company Act of 1940, more similar to a mutual fund. The new GDOG, on the other hand, is structured under the Securities Act of 1933, the same law that governs the bitcoin (BTC) and ether (ETH) spot ETFs approved by the United States Securities and Exchange Commission (SEC) in 2024.
Nate Geraci, an ETF specialist, stood out the importance of this debut as the first DOGE ETF under the 1933 Act. Geraci considers the launch a “highly symbolic” event, regardless of opinions on the digital asset itself.
That dogecoin—the quintessential meme—now has the same investment vehicle as bitcoin is proof that digital assets have definitively won the battle for institutional acceptance in the United States.
For the analyst, represents the best example of a monumental change in cryptocurrency regulation over the last year. “By the way, GDOG may already be in the top 10 symbols for me,” he adds.