Nasdaq Seeks SEC Approval to List 21Shares Dogecoin ETF as Review Period for Bitwise’s Spot DOGE ETF is Extended
The Nasdaq exchange has filed a form with the SEC to list and trade shares of the ‘Nasdaq Seeks SEC Approval to List 21Shares Dogecoin ETF’ 21Shares Dogecoin ETF. The filing comes as the SEC postpones its decision on Bitwise’s spot DOGE ETF application, extending the review period until June 15.
The Securities and Exchange Commission (SEC) is a US government agency responsible for regulating securities, including stocks, bonds, and mutual funds.
Established in 1934, the SEC's primary goal is to protect investors by ensuring fair and transparent financial markets.
The commission oversees publicly traded companies, enforcing disclosure requirements and investigating potential securities law violations.
With its headquarters in Washington D.C., the SEC has five regional offices across the country, employing over 4,000 staff members.
The proposed 21Shares Dogecoin ETF aims to track dogecoin’s performance, as measured by the CF DOGE-Dollar US Settlement Price Index, adjusted for the Trust’s expenses and other liabilities. It is a passive investment vehicle that will hold DOGE directly, without utilizing leverage or derivatives.
Coinbase Custody Trust will serve as the official custodian for the ETF, holding the fund’s tokens. This arrangement ensures that the ETF holds its underlying assets directly, without relying on intermediaries.
21Shares partnered with the House of Doge to submit an S-1 registration for the ETF. The partnership aims to promote the fund and bring dogecoin-based investment products to a wider audience.
The Trust’s investment objective is to track the performance of dogecoin, without using leverage or derivatives. This approach allows investors to gain exposure to the cryptocurrency market while minimizing potential risks.
Dogecoin is a decentralized digital currency created in December 2013 as a parody of the cryptocurrency market.
Initially, it was intended to be a joke but gained traction and popularity due to its lighthearted and humorous approach.
The coin's mascot, a Shiba Inu dog, became an instant hit on social media platforms.
Dogecoin's unique features include its fast transaction processing time and low fees, making it appealing to users seeking a more accessible cryptocurrency experience.
The filing with the SEC marks an important step in the process for listing and trading shares of the 21Shares Dogecoin ETF. The SEC’s decision on Bitwise’s spot DOGE ETF application is also pending, with a new review period set to end on June 15.
- coindesk.com | Nasdaq Seeks SEC Approval to List 21Shares Dogecoin ETF
