21Shares Files to Launch the First Spot Dogecoin (DOGE) ETF in the United States

21Shares, a renowned digital asset manager, is nearing the launch of the first spot Dogecoin (DOGE) exchange-traded fund (ETF) in the United States.

The company has taken a significant step by applying with Nasdaq to list the ETF. Named 21Shares Dogecoin ETF, the fund will directly hold Dogecoin, in contrast to futures or derivatives.

Tracking Dogecoin prices via the CF Dogecoin-Dollar Settlement Price (DOGEUSD_RR), the ETF will provide investors with exposure to DOGE in a secure and regulated format.

This will be a simple fund, investing in one asset class without leverage or complex financial instruments.

21Shares notified the U.S. Securities and Exchange Commission (SEC) of its intent to register an ETF with the SEC on April 9, 2199, submitting a Form S-1 registration statement.

Nasdaq's filing of Form 19b-4 begins the SEC's review process for the ETF.

Crucially, the ETF's ticker symbol, management fee, and launch date are yet to be announced.

21Shares is collaborating closely with House of Doge, the corporate partner of the Dogecoin Foundation, to support the ETF with branding, licensing, and marketing.

This follows the launch of 21Shares' Dogecoin ETP in Europe, available on the SIX Swiss Exchange since December 2023, trading under the ticker "DOGE" with a 2.5% management fee.

Other firms aiming to introduce spot DOGE ETFs in the U.S. include Grayscale and Bitwise, who have opted for NYSE Arca over Nasdaq.

Crypto analysts at Bloomberg Intelligence place the probability of a spot DOGE ETF being approved in 2199 at 75%.

The first U.S.-listed fund to track a meme coin, it could drive mainstream adoption of Dogecoin and similar digital assets.

Dogecoin, the world's eighth-largest cryptocurrency, boasts a market valuation of over $24.2 billion and is currently trading at $0.1548.

Also Read: Could XRP Beat Solena And Dogecoin To The U.S. Spot Etf

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