SEC Reviews Grayscale's Dogecoin ETF Proposal

SEC評論Grayscale的Dogecoin ETF提案

Introduction

介紹

The Securities and Exchange Commission (SEC) has acknowledged Grayscale's filing for a Dogecoin Exchange-Traded Fund (ETF). Notably, the SEC has opted to review the proposal rather than rejecting it outright, as seen in previous altcoin ETF applications.

美國證券交易委員會（SEC）已確認格雷斯卡爾（Grayscale）提交的狗蛋白交易所交易基金（ETF）的申請。值得注意的是，SEC選擇審查該提案，而不是直接拒絕該提案，如先前的Altcoin ETF應用中所示。

NYSE Arca Amendment and Regulatory Considerations

NYSE ARCA修正案和監管考慮

NYSE Arca submitted Amendment No. 1 to refine Grayscale's ETF proposal. This amendment addresses regulatory concerns to enhance compliance and market viability. Approval of the Grayscale Dogecoin ETF could increase institutional investment in DOGE, providing regulated access to a broader investor base.

NYSE ARCA提交了第一號修正案，以完善灰度的ETF提案。該修正案涉及加強合規性和市場生存能力的監管問題。認可灰dogecoin ETF可能會增加在門多格的機構投資，從而提供受監管的機會獲得更廣泛的投資者基礎。

Grayscale's ETF Filing and Industry Engagement

Grayscale的ETF申請和行業參與

NYSE Arca initially submitted a request to the SEC on January 31, 2025, to list and trade shares of Grayscale Dogecoin Trust. This action is part of Grayscale's ongoing efforts to gain approval for cryptocurrency-based ETFs in traditional financial markets.

NYSE ARCA最初於2025年1月31日向SEC提交了請求，以列出Grayscale Dogecoin Trust的股份。這項行動是Grayscale持續努力獲得基於加密貨幣在傳統金融市場中的ETF的努力的一部分。

Other firms, such as Bitwise, REX Shares, and WisdomTree, have also submitted Dogecoin ETF applications. The surge in filings reflects the growing demand for cryptocurrency-based ETFs among institutional investors.

其他公司，例如Bitwise，Rex股票和WisdomTree，也提交了Dogecoin ETF應用程序。備案的激增反映了機構投資者中對基於加密貨幣的ETF的需求不斷增長。

Amendment to Grayscale's Proposal and SEC's Review

修正了Grayscale的提議和SEC的評論

On February 10, 2025, NYSE Arca submitted Amendment No. 1, replacing the initial filing. The amendment modifies aspects of the ETF's structure and regulation. Unlike past altcoin ETF filings that faced swift rejections, the SEC has chosen to formally review Grayscale's application. The regulator has also established a public comment period to gather input on the proposed rule change. This action signals a greater willingness to consider cryptocurrency-based ETFs.

2025年2月10日，紐約證券交易所ARCA提交了第1號修正案，取代了初始文件。該修正案修改了ETF結構和調節的各個方面。與過去面臨迅速拒絕的替代申請文件不同，SEC選擇正式審查灰度的應用。監管機構還建立了公眾意見期，以收集有關擬議規則更改的意見。該動作表明考慮基於加密貨幣的ETF的更大意願。

Potential Market Impact and Investor Sentiment

潛在的市場影響和投資者情緒

Approval of the Grayscale Dogecoin ETF by the SEC would provide institutions and individuals with regulated access to Dogecoin. It would create both liquidity and market access for DOGE, attracting additional investors.

SEC批准灰dogecoin ETF將為機構和個人提供受管制的狗狗的機會。它將為Doge創造流動性和市場通道，吸引其他投資者。

Industry analysts believe approval would be a significant step towards institutional adoption of Dogecoin. The SEC's positive response to Grayscale's application has raised expectations for the potential rollout of more Dogecoin ETFs in the near future.

行業分析師認為，批准將是邁向機構採用Dogecoin的重要一步。 SEC對Grayscale應用的積極反應提高了人們對在不久的將來可能推出更多Dogecoin ETF的期望。