Grayscale files to convert its DOGE Trust into an ETF less than a day after launch

The Dogecoin Trust operated by Grayscale submitted its application to the SEC for ETF conversion status exactly one day after announcing its trust platform. According to Cryptopolitan the company initially announced it would wait for Senate confirmation of SEC chair nominee Paul Atkins during the following week.

All indications show that they decided against delaying their decision despite the possibility being present. ETF analyst Eric Balchunas shed light on the situation perfectly when he stated that no trust has ever rushed headfirst into a “launch-today, file-tomorrow” strategy before. There are four distinct DOGE ETF filings currently in existence alongside leveraged bets among them.

The departure of Gary Gensler as head of the SEC occurred too recently for the ETF industry to become unregulated. “Man, the jockeying is intense. I have never observed a trust starting its operations before applying for ETF conversion on the same day. They now hold the best position to gain approval in the 19b-4 race. The number of Doge etf filings reaching four has arisen (along with two 2x filings included). According to Eric “Genz has only been away for a brief period of about two weeks.”