We advised Grayscale on launching the first publicly traded spot Dogecoin ETF in the United States

Davis Polk advised Grayscale Investments on the successful uplisting of Grayscale Dogecoin Trust ETF under the generic listing standards for commodity-based exchange-traded products recently approved by the U.S. Securities and Exchange Commission. Grayscale Dogecoin Trust ETF is the first spot Dogecoin ETF in the United States, one of the few investment vehicles offering exposure to Dogecoin through traditional securities brokerage and retirement accounts. Shares of the trust are listed on NYSE Arca under the ticker “GDOG.” The trust’s registration statement became automatically effective 20 calendar days after its filing following Grayscale’s removal of the Rule 473 delaying amendment.

Dogecoin was originally created in 2013 as a parody of bitcoin and other digital assets. Renowned for its Shiba Inu mascot and vibrant community of enthusiasts and investors, Dogecoin is widely considered to be the first memecoin. Despite its playful beginnings, Dogecoin’s low transaction fees, efficient processing times and robust ecosystem of developers have positioned it as a fixture in the broader crypto market. Today, Dogecoin is one of the largest digital assets by market capitalization, and one of the most actively traded digital assets by volume.

The Davis Polk capital markets team included partners Joseph A. Hall and Daniel P. Gibbons and associate Dylan H. Lojac. Partner Zachary J. Zweihorn and associates Justin Levine and Boaz B. Goldwater provided financial institutions advice. The tax team included partners Patrick E. Sigmon and Lucy W. Farr and associates William Liang and Seth Cole. Members of the Davis Polk team are based in the New York and Washington DC offices.

Copy link to share post