Grayscale, the major crypto asset manager, is reportedly on track to debut the U.S.’s first spot Dogecoin ETF, ticker GDOG, by November 24.
A significant cryptocurrency asset manager is currently preparing to launch a historic financial product. Grayscale is about to launch the first Dogecoin Exchange-Traded Fund (ETF) in the US. This monumental launch could take place as early as Monday, November 24, 2025. The anticipation forecast has definitely attracted the attention of investors worldwide.
Memecoin Fund Nears Approval in Regulated Markets
The possible launch date is from a well-respected ETF analyst named Eric Balchunas. He recently advertised the timeline on his social media platform. However, an official listing notice from the exchange is still fully required for the final confirmation. Grayscale filed its Form S-1 filing with the SEC in August.
Based on 20 day clock I believe Grayscale will be out with first Doge ETF in a week, 11/24. We’ll see, won’t be 100% till exchange notice, but based on SEC guidance it looks good. pic.twitter.com/mvlGsNyNVG
— Eric Balchunas (@EricBalchunas) November 17, 2025
This proposed investment product would make it the first ETF ever to be approved in the US on a memecoin-focused investment product. Grayscale plans to turn its existing Grayscale Dogecoin Trust into a spot ETF. The new fund would be traded on the NYSE Arca under the ticker GDOG. Therefore, this step is a great indicator of increasing institutional acceptance of such assets.
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Dogecoin is a big player in the cryptocurrency market. According to data from CoinGecko, it has the respected tenth spot overall. Its current market capitalization is a respectable $24.2 billion. This high valuation reinforces the importance of the entire sector.
The firm is taking advantage of an expedited regulatory review process for the ETF. Grayscale and competitor Bitwise are taking advantage of Section 8(a) of the Securities Act of 1933. This particular provision has the ability to make registration statements automatically become effective.
This effectiveness takes place after a 20-day review period unless active intervention by the SEC with the filing takes place. The market is waiting for the formal announcement for the GDOG ticker. In addition, this key step will gain necessary regulatory clarity to all investors.
Market Competition and Price Volatility Define Dogecoin
Other large asset managers are also competing hotly in the memecoin ETF space. These great companies include Bitwise, Rex Shares and 21Shares. This strong competition is a clear indication of a more general institutional interest.
Rival firm, Rex Shares, already launched an Osprey Dogecoin ETF (DOJE) earlier in 2025. Notably, that fund experienced heavy trading interest immediately after it went public. Such market activity already underlines the latent demand.
The possible approval timeline has directly coincided with recent swings in the underlying price of Dogecoin. The price went through a major slump from mid-October to mid-November 2025. This correction has kept the professional traders on their toes.
On November 17, 2025, the price of Dogecoin moved dynamically in 24 hours. The price opened the day at $0.158623 USD. Then, it was able to reach a high of $0.162024 USD around the 8:00 mark successfully.
The price then had a breakdown in the late afternoon and evening. Some expert analysts suggest that a successful ETF launch could lead to major new institutional investment.
This huge inflow of capital is expected to be instantaneous and massive. Consequently, this potential influx could cause a major price rally for Dogecoin. To conclude, this launch is a definite milestone for the whole digital asset industry.