The SEC has acknowledged a new ETF proposal for Dogecoin (DOGE) from Grayscale, aimed at turning the cryptocurrency into an exchange-traded product that would track its price through CoinDesk's DCX index. The proposal, submitted by NYSE Arca, mirrors other crypto trust conversions by Grayscale and includes provisions to address regulatory concerns by having authorized participants manage cash instead of DOGE directly. While the SEC's acknowledgment is a step forward, the 240-day review period, which begins with a 45-day initial assessment, will only commence once the filing is published in the Federal Register. Grayscale's initiative to convert its trust to an ETF seeks to enhance liquidity and the ability to trade shares in real-time, a significant shift from the conventional trust structure. This proposal reflects the growing acceptance of DOGE, which has been utilized by over 2,500 merchants and for charitable causes, highlighting its transition from a meme-based cryptocurrency to a more established financial asset.

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