The Digital Asset Manager 21Shares submitted to the US Securities and Exchange Commission to start out a fund from Spot Dodecoin Exchange Exchange-traded fund after submitting similar submissions from competitors and grayscale.
The 21shares Dogecoin ETF would attempt to pursue the Memecoin Dogecoin (Doge) price based on the corporate's form on April 9 on April ninth ​​of the corporate. The company arm of the Dogecoin Foundation, House of Dog, Plant to support 21 -shares in marketing the fund.
21Shares said that Coinbase -Right could be the proposed administrator of his Dotecoin ETF, but not a fee, ticker or stock exchange that she could be listed.
Source: James Seyffart
21Shares must also submit a 19b-4 submission to the SEC to start out the regulatory authority's approval procedure for the fund.
Doge currently has a market capitalization of $ 24.2 billion and is the eight-largest cryptocurrency based on value. It was founded as a joke in 2013 and is a fork with a lucky coin, which is even a fork of Bitcoin.
21Shares' proposed Dotecoin ETF is the recent effort of the corporate to expand the Spot Crypto ETF offer, which currently only features a spot Bitcoin (BTC) and the Ether (Eth) Fund.
The issuer also submitted to the SEC in February to start out a Spot Polkadot (DOT) -TF, and last 12 months it was submitted to create a spot XRP (XRP) -TF.
The recent increase within the crypto -ett -submissions reflects a “spaghetti -canon approach” of emittent -tests, which products could approved the brand new Seco lead, said the Bloomberg ETF -Analyst James Seyffart in February.
“Emitters will try to start out many alternative things and see what sticks,” said Seyffart.
The analyst of Seyffart and colleague Bloomberg ETF, Eric Balchunas, said in February that there could be a probability of 75% that the SEC will approve a Spot Dodecoin ETF this 12 months, while the Betting platform Polymarket is currently giving a probability of approval of 64%.
21shares and House of Doge Partner for Doge Fund in Switzerland
21Shares also said on April 9 that it teamed up with House of Doger to launch a totally supported Dotecoin Exchange product on the six Swiss exchange of Switzerland.
The 21 -shares product is traded under the ticker “Doge” with a fee of two.5%.
21Shares President Duncan Moir said that Dogecoin has “turn into greater than a cryptocurrency: it represents a cultural and financial movement that continues to drive the mainstream acceptance, and Doge offers investors a regulated opportunity to be a part of this exciting project.”
