Nasdaq files for a change in line to state 21Shares Dogecoin ETF

Nasdaq has applied for the US Securities and Exchange Commission for a change of rule that would enable the stock market to mention shares of a 21shares Exchange-Traded Fund based on the price of Dogecoin, according to a submission Tuesday.

The 21Shares Dogecoin ETF would follow the price of the popular meme coin, mirroring place Bitcoin And Ethereum ETFs who received approval last year, according to the 19B-4 document.

21Shares followed Crypto Asset Managers Grayscale and Bitwise as Dogecoin ETF Hopefuls, submit An S-1 registration statement earlier this month. Bitwise moved To set up a Dogecoin ETF at the end of January, days before Grayscale revealed Similar ambitions. 19b-4 inventions are generally required by the SEC, but do not guarantee approval.

Not long ago, a Dogecoin ETF and funds that follow other altcoins – where I follow it far -fetchedBut the digital active is one of different cryptocurrencies where asset managers now race to offer products. There is one Solid chance Analysts say that Dogecoin ETFs are being approved this year.

The SEC has already started his deliberations on the Grayscale 19B-4 entry. Sec recognized The application submitted by NYSE ARCA on behalf of the Crypto Asset Manager in February, so that a 240-day maximum window was established after it was placed at the federal registrar.

21Shares, Bitwise and Grayscale all try to offer Dogecoin ETFs as trusts based on raw materials, but another Dogecoin ETF can first be approved. The Rex shares based in Miami submitted An application for a Dogecoin ETF under the so-called 40-law, which is subject to a 75-day assessment process. The law relates to funds that combine assets with derivatives.

The rough of the Dogecoin Foundation, House of Doge, blessed 21Shares suggested ETF and said that the fund would strengthen the ‘role of the meme currency in regular financing’. House of Doge also supported a Dogecoin ETP introduced by 21Shares on the six Swiss exchange of Switzerland.

With a market capitalization of $ 76.3 billion, Dogecoin is the at the eighth largest cryptocurrency on total value and the leading meme -Munt of the crypto industry, according to Crypto Data Provider Coentecko. In the past week, the Dogecoin price rose by 6.3% to $ 0.18.

Published by James Rubin