The US Securities and Exchange Commission (SEC) has acknowledged Grayscale’s filing to list and trade shares of a spot dogecoin exchange-traded fund (ETF), demonstrating forward progress to expand investor access to the eighth-largest cryptocurrency by market cap.(1)
This means you might soon be able to get exposure to dogecoin’s price through a traditional investment option and invest in this asset through retirement accounts.
Here’s what you need to know.
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Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
What is dogecoin?
Dogecoin is a decentralized cryptocurrency created in 2013 by Billy Markus and Jackson Palmer. Though it was originally created as a joke and is one of the first memecoins, dogecoin has since grown into a widely used digital currency, particularly for tipping.(2)
Further, Tesla CEO Elon Musk announced in December 2021 that the automaker would accept dogecoin as payment for merchandise.(3)
As of February 2025, dogecoin is the eighth-largest cryptocurrency by market cap at over $40.12 billion.
What is a spot dogecoin ETF?
Similar to a spot bitcoin ETF, a spot dogecoin ETF is a type of exchange-traded fund that will hold physical dogecoin as its underlying asset.
An ETF is a low-cost investment fund that can be traded on a stock exchange such as the New York Stock Exchange (NYSE) or the Nasdaq.
When would a spot dogecoin ETF be available?
On January 31, 2025, Grayscale filed with the SEC to list and trade shares of a Dogecoin Trust under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares), a rule that governs the listing and trading of Commodity-Based Trust Shares on the New York Stock Exchange (NYSE).(4)
The SEC officially acknowledged Grayscale’s filing on February 13, 2025, with the Federal Register, triggering a 21-day public comment period for the proposed rule change and listing. Within 45 days of acknowledging the proposal — or up to 90 days if they need more time — the SEC will either approve it, reject it or start a review process to decide if it should be denied.(4)
In short, it could take several months before a spot dogecoin ETF begins trading.
The exchange applications are the first step in a two-step approval process, the second step being approval of ETF S-1 registration statements.
How to buy dogecoin spot ETFs if they’re approved
- Choose a platform and open an account. If you’re a beginner, our ETF broker picks below can help you choose. Then, provide your personal information and sign up.
- Confirm your payment details. Fund your account with a bank transfer, debit card or credit card.
- Select and research ETFs. Search the platform for the ETF ticker symbol. The platform should provide the latest information available.
- Buy your ETF shares. Place a market order or limit order with your preferred number of shares.
The whole process can take as little as 15 minutes. You’ll need a smartphone or computer, an internet connection, your passport or driving license and a means of payment.
Latest spot dogecoin ETF news
February 13, 2025: The US Securities and Exchange Commission has acknowledged Grayscale’s filing to list and trade shares of a dogecoin Trust under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares).
What might the spot dogecoin ETF do for dogecoin’s price?
Approval of a spot ETF would make dogecoin, the eighth-largest cryptocurrency by market cap as of February 2025, accessible to a broader range of investors. Whereas many traditional brokers still don’t offer direct crypto investing, most will likely offer any approved spot dogecoin ETF, just as they have with spot bitcoin and spot Ethereum ETFs.
From January 11, 2024, when bitcoin spot ETFs began trading, until currently, February 2025, investors have poured more than $115 billion into them.(5) While there’s no telling the same will happen for approved spot dogecoin ETFs, demand appears high.
Dogecoin ETF alternatives
While dogecoin ETFs will offer a convenient way to gain exposure to the cryptocurrency, an alternative method to consider is to purchase dogecoin directly on a cryptocurrency exchange or with a traditional broker that offers crypto.
Platforms like Gemini, Coinbase, Kraken and Robinhood allow you to purchase and hold dogecoin in a digital wallet or transfer your coins to an external wallet. This method gives you full control over your dogecoin assets.
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Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we’re paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
