Grayscale Dogecoin Trust ETF (Ticker: GDOG) Begins Trading on NYSE Arca as First Dogecoin ETP in the U.S.

Grayscale Investments, the world’s largest digital asset-focused investment platform, announced that Grayscale Dogecoin Trust ETF (Ticker: GDOG) has begun trading on NYSE Arca. This marks the first pure spot Dogecoin ETP available in the United States.

GDOG, an exchange traded product, is not registered under the Investment Company Act of 1940. Consequently, it is not subject to the same regulations and protections as 40 Act-registered ETFs and mutual funds. An investment in GDOG involves significant risk, including the possible loss of principal. While GDOG holds DOGE, an investment in GDOG is not a direct investment in DOGE.

Understanding Dogecoin's Utility

As an open-source, peer-to-peer network known for low-cost, rapid transactions and a highly engaged community, Dogecoin powers everyday payments, tipping, and other data-driven applications. Long described as one of the first "memecoins," Grayscale believes DOGE has matured into a practical tool for advancing financial accessibility. Due to its wide user base, affordability, and rapid transaction speeds, Dogecoin has garnered significant adoption worldwide.

Grayscale's Perspective on GDOG

“With GDOG’s uplisting on NYSE Arca, we’re expanding investor exposure to a network that’s fast, low-cost, and leveraged by thousands of users every day,” said Krista Lynch, Senior Vice President, ETF Capital Markets, at Grayscale. “Dogecoin has evolved from internet culture to real world utility, and that maturation aligns with our objective to make digital assets more accessible to a greater number of investors.”

Grayscale Dogecoin Trust was initially launched as a private placement for eligible accredited investors in January 2025. It was among the first single-asset vehicles in the U.S. providing exposure to the native coin of the Dogecoin network.

About Grayscale

Grayscale is the world’s largest digital asset-focused investment platform, with approximately $35 billion in assets under management. Its mission is to make digital asset investing simpler and open to all investors. Founded in 2013, Grayscale has been at the forefront of bringing digital assets into the mainstream, with a history of firsts that includes launching the first widely available Bitcoin and Ethereum investment vehicles. With a proven track record of leadership, Grayscale offers more than 40 products—spanning ETFs, private funds, and diversified strategies—covering over 45 tokens across the digital asset spectrum.

*Largest digital asset-focused investment platform based on asset under management (“AUM”) as of September 30, 2025. For other companies in this category, AUM is considered as of most recent public disclosure.

**As of September 30, 2025.

Investment Considerations

Investors are advised to read the prospectus carefully before investing in Grayscale Dogecoin Trust ETF (“GDOG” or the “Fund”). Foreside Fund Services, LLC is the Marketing Agent and Grayscale Investments Sponsors, LLC is the Sponsor of GDOG.

As a non-diversified and single industry fund, the value of the shares may fluctuate more than shares invested in a broader range of industries. There is no guarantee that a market for the shares will be available, which could adversely impact the liquidity of the Fund. The value of the Fund relates directly to the value of DOGE, the value of which may be highly volatile and subject to fluctuations due to a number of factors.

The trading prices of many digital assets, including DOGE, have experienced extreme volatility in recent periods and may continue to do so. Extreme volatility in the future, including declines in the trading prices of DOGE, could have a material adverse effect on the value of the shares, and the shares could lose all or substantially all of their value. Digital assets such as DOGE were only introduced within the past two decades, and the medium-to-long term value of the shares is subject to a number of factors relating to the capabilities and development of blockchain technologies and to the fundamental investment characteristics of digital assets.

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