Grayscale Files S-1 to Convert Dogecoin Trust Into Spot ETF

Grayscale Investments filed an S-1 registration statement with the Securities and Exchange Commission on November 13, 2025, seeking to convert its Dogecoin Trust into a spot exchange-traded fund. The trust holds physical DOGE tokens and has designated Coinbase as prime broker and custodian. Bloomberg ETF analyst Eric Balchunas projected a potential launch as early as November 24, 2025, pending the SEC's standard 20-day review period.