The cryptocurrency Dogecoin (CRYPTO:DOGE)Â is trading higher on Friday. The gain comes as the S&P 500 gained 0.4% and Bitcoin gained 2.5%. The upward move was driven by the Securities and Exchange Commission's (SEC) announcement that it had received an application from the asset manager Greyscale to create a Dogecoin exchange-traded fund (ETF).
Official Trump is seeing huge gains following news that the Securities and Exchange Commission (SEC) has accepted Grayscale's application to form an exchange-traded fund (ETF) built around XRP. Investors are betting that policy changes at the SEC could open the door for catalysts that drive powerful rallies for altcoins. While the SEC's acknowledgment of the application doesn't mean Grayscale will be able to move forward with an XRP ETF, it's a notable development.