Asset managers Grayscale and Bitwise could be days away from listing the first Dogecoin ETF on U.S. markets, with a potential launch date scheduled for November 24. According to Eric Balchunas, senior ETF analyst, this breakthrough is due to the activation of a 20-day regulatory clock following the filing of registrations with the Securities and Exchange Commission (SEC). This move would mark a crucial milestone in the legitimization of memecoins within institutional investment portfolios.
The process is based on Section 8(a) of the Securities Act of 1933, a regulation that allows registration statements to become automatically effective 20 days after filing if the regulator does not intervene. Bitwise filed its application on November 7, while Grayscale seeks to convert its Dogecoin Trust, originally launched in January 2025, into an exchange-traded fund. This strategy aims to bypass the lengthy procedures of Rule 19b-4, significantly accelerating access to the regulated market.
Is the SEC Ready to Accept Dogecoin as a Regulated Commodity?
This development is possible thanks to Dogecoin’s likely classification as a commodity rather than a security, which simplifies its regulatory approval compared to other assets like Solana or XRP. Filings with the Federal Register for NYSE Arca explicitly reference Rule 8.201-E regarding “Commodity-Based Trust Shares.” Thus, it avoids the legal hurdles that have stalled other crypto products, aligning with the Commodity Exchange Act.
The approval of these investment vehicles would represent massive institutional validation for an asset that was born as an internet joke. Bloomberg analysts now estimate a 90% approval probability for these products, surpassing even expectations for other crypto assets. Therefore, the arrival of a regulated and tax-efficient vehicle would allow traditional investors to gain exposure to the cryptocurrency without direct custody risks or the usual technical complexities.
Despite the optimism generated by the 20-day clock, the definitive launch still depends on official notification from the exchanges. If the November 24 date is confirmed, the market could witness an unprecedented influx of institutional capital into the memecoin sector. Finally, this event could set a key regulatory precedent for the future approval of other funds for altcoins under similar legal structures in 2026.
