NYSE Arca, Inc. submitted a proposed rule change to the Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale Dogecoin Trust under a specific rule for commodity-based trust shares. After filing an amendment to the proposal, the SEC published it for public comments. Initially, the SEC had 45 days to decide on the proposal, but they extended the deadline to May 21, 2025, to allow more time for consideration. This extension is intended to ensure that the SEC can thoroughly assess the proposal and any issues people have raised.
Simple Explanation
Imagine a group wants to sell coins made from a special internet money called Dogecoin, and they want them to be sold like special objects. The big folks in charge need extra time to think about how to do this safely, so they've decided to wait until May 21, 2025, to make their decision.