Summary
- Grayscale announced it will launch the United States' first Dogecoin (DOGE) spot ETF 'GDOG' today.
- The ETF is listed under a ’33 Act (Securities Act of 1933)-based structure, with a fee of 0.35% but fees waived up to an initial $1 billion or for three months after listing.
- First-day trading volume is expected to be about $12 million, and the industry views multiple issuers' competition for 'first listings' as positive for market development.
Grayscale is reported to be launching the United States' first spot Dogecoin (DOGE) exchange-traded fund (ETF) today.
On the 24th, Eric Balchunas, Bloomberg senior ETF analyst, stated on X (formerly Twitter) that "the United States' first Grayscale Dogecoin (DOGE) spot ETF (GDOG) will launch today."
He said, "GDOG was listed under a ’33 Act (Securities Act of 1933)-based structure," and added, "the fee is 0.35%, but fees are waived up to an initial $1 billion or for three months after listing." He projected that first-day trading volume would be "about $12 million."
Balchunas also said, "Grayscale is likely to receive singular market attention for two days," and added that "Bitwise's Dogecoin ETF 'BWOW' is scheduled to list on Wednesday." He evaluated that "the dynamic of multiple issuers sharing the 'first listing' title with different coins is encouraging for industry development."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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