According to a newly disclosed document, Grayscale filed an amended S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on September 19th, proposing to convert its closed-end Dogecoin Trust into an exchange-traded fund (ETF). If approved, the fund would be listed on the NYSE Arca under the ticker symbol "GDOG" and would designate Coinbase as its prime broker and custodian.

On the same day, NYSE Arca also submitted a proposal to apply to modify the listing terms of the Grayscale Ethereum Trust ETF and its "mini version" trust in accordance with the SEC's newly approved "universal listing standards". The new standards mean that such products will be subject to relatively looser regulatory review.

Grayscale cited the new regulations in its application, noting that Dogecoin has been trading futures and options on exchanges regulated by the U.S. Commodity Futures Trading Commission (CFTC) for over six months, complying with the relevant requirements. The company also stated that the trust should not be considered an “investment company” as defined under the Investment Company Act of 1940 and therefore not subject to its regulations.

If GDOG is approved, it will become the second securitized product in the United States to directly track the price of Dogecoin. This Thursday, the Dogecoin ETF (DOJE), a collaboration between REX and Osprey, was approved for listing by the SEC.