Nasdaq has applied to the SEC to list the 21Shares Dogecoin ETF under Rule 5711(d).
DOGE is a popular crypto known for its meme origins and strong community support. Let’s explore more about this Dogecoin ETF.
The proposed 21Shares Dogecoin ETF is designed to track the performance of DOGE. This is by measuring the CF Dogecoin-Dollar Settlement Price (DOGEUSD_RR). Coinbase has been designated as the custodian for the fund, ensuring secure storage of the underlying assets. The ETF will physically hold actual DOGE tokens instead of using derivatives or futures contracts. This structure aims to provide investors with direct exposure to the crypto’s price movements.
This ETF would offer a new avenue for investors to gain exposure to Dogecoin within traditional financial markets. It could attract institutional investors who are interested in digital assets. But, they prefer the regulatory oversight and familiarity of exchange-traded products. Additionally, the approval of this crypto ETF could pave the way for other cryptocurrency-based ETFs. This would further integrate digital assets into mainstream finance.
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Nasdaq has submitted an application to the U.S. SEC to list and trade the 21Shares Dogecoin ETF under Nasdaq Rule 5711(d). The ETF will be sponsored by 21Shares US LLC and is designed to track the performance of Dogecoin. listingcenter.nasdaq.com/assets/ruleboo…
Last week’s net ETF inflows were over 11x the new supply issuance, a new record! #Bitcoin
