NYSE to apply to convert Grayscale Dogecoin Trust into ETF

Odaily Planet Daily News New York Stock Exchange Arca has submitted a 19b-4 form to the U.S. Securities and Exchange Commission, planning to convert Grayscale's Dogecoin Trust into a spot exchange-traded fund. This move was made quickly shortly after Grayscale announced the launch of the Dogecoin Trust Fund, which disclosed that Coinbase Custody Trust Company will serve as the Grayscale Dogecoin ETF custodian, while Bank of New York Mellon will be responsible for management and transfer agent duties. It is reported that the application stated: "Similar to Bitcoin and Litecoin, Dogecoin can be used to pay for goods and services, or can be exchanged for legal currency, such as the US dollar. The exchange rate is determined by the digital asset trading platform or by a single end-user to end-user transaction under the barter system. In addition, Dogecoin can also be used to pay miners for transaction fees for verifying transactions on the Dogecoin network." (Cryptobriefing)