Nasdaq has filed an S-1 form for the 21Shares Dogecoin ETF with the US Securities and Exchange Commission (SEC). This move begins the approval process for the Commission to decide on the fund, which will provide institutional investor access to the top meme coin.

Nasdaq Is Filing To List & Trade 21Shares's Dogecoin ETFAccording to the filing, which was spotted by ETF Trends, Nasdaq is applying to list and trade the 21Shares Dogecoin Trust ETF on the exchange. This move officially kicks off the approval process, which will see the SEC move to publish the filing in the Federal Register and ask for public comment on it.

Earlier this month, asset manager 21Shares filed the 19b-4 form for its DOGE ETF. This move showed the firm’s intention to offer investors exposure to the largest meme coin by market cap.

Besides 21Shares, Grayscale, and Bitwise have also filed to offer a Dogecoin ETF, providing a bullish outlook for the DOGE price, which could surge as institutional investors invest in the meme coin. More asset managers are expected to file for a DOGE ETF as interest in the meme coin picks up.

What's Next For The Dogecoin Price?The DOGE price remained unchanged following Nasdaq’s S-1 filing for the 21Shares Dogecoin ETF. However, crypto analyst Trader Tardigrade predicts that a breakout might be on the horizon for the top meme coin.

In an X post, the analyst noted that Dogecoin has been moving within different ranges, experiencing both false breakdowns and breakouts. He added that the meme coin has now returned to its current range. In line with this, he expects DOGE to breakout, potentially sending it higher.