Recent news shows that Grayscale has submitted an application to the SEC to rename the Grayscale Dogecoin Trust to the Grayscale Dogecoin Trust ETF. It is reported that the ETF's shares are expected to be listed on the New York Stock Exchange Arca, with the ticker symbol proposed as 'GDOG'.

This move has sparked heated discussions in the industry regarding the future development of the cryptocurrency ETF market. Although Bitcoin and Ethereum ETFs have successfully launched and generated a huge response, the approval of the third mainstream cryptocurrency ETF seems to be progressing slowly. The previously approved Solana ETF, although not in the traditional ETF format, has also failed to create significant waves in the market.

Currently, the cryptocurrency community is eagerly anticipating the birth of the next ETF. Industry insiders generally believe that the timely launch of new cryptocurrency ETF products will help sustain the market enthusiasm brought by Bitcoin and Ethereum ETFs. However, there are still differing opinions on which cryptocurrency is most likely to become the next ETF target.

Apart from Dogecoin, Solana, Litecoin, and Ripple are also seen as potential candidates. Each cryptocurrency has its unique advantages and market position, and whether an ETF can be successfully launched depends on various factors including the regulatory environment and market demand.

As the cryptocurrency market continues to mature, the diversification of ETF products will provide investors with more options, while also potentially bringing new market opportunities and challenges. The industry will closely monitor the SEC's approval progress, as well as the potential impact of these new ETF products on the entire cryptocurrency ecosystem.