The US SEC has received an S-1 form for a spot Dogecoin ETF from asset manager 21Shares, which joins Bitwise and Grayscale.
Asset manager 21Shares has applied to the US Securities and Exchange Commission (SEC) to offer a Dogecoin ETF. This occurs as the price of Dogecoin rises after falling to as low as $0.14 due to a series of sell-offs.
21Shares Files For Spot Dogecoin ETF
The US SEC has received 21Shares‘ Dogecoin ETF S-1 form. The asset manager joins Bitwise and Grayscale as the third to apply for a DOGE ETF. The asset manager must then submit the 19b-4 form for this fund through an exchange, formally beginning the process of obtaining a possible Commission approval.
Remarkably, this filing was made the same day that 21Shares, in collaboration with the House of Doge, introduced its Dogecoin ETP on the SIX Swiss Exchange. The asset manager disclosed in the prospectus that the House of Doge, the corporate arm of the Dogecoin Foundation, will assist in marketing the fund, so if the SEC approves this ETF, these two will work together once more.
Coinbase, the leading cryptocurrency exchange, will act as the Trust’s custodian in the interim. In addition to holding Dogecoin, the ETF will give institutional investors a way to get exposure to the leading meme coin.
