Nasdaq has filed a 19b-4 application with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the 21Shares spot Dogecoin (DOGE) exchange-traded fund (ETF).

納斯達克已向美國證券交易委員會（SEC）提交了19B-4申請，以列出21shares spot dogecoin（Doge）交易所交易基金（ETF）的股份。

The filing, which was submitted on April 29, 2025, is part of a broader initiative by several asset managers to introduce crypto ETFs to retail investors.

該文件於2025年4月29日提交，是幾位資產管理人員將加密ETF引入零售投資者的更廣泛倡議的一部分。

Earlier this month, 21Shares submitted an S-1 to register a spot-based Dogecoin ETF with the SEC. The ETF, which would be structured as a commodity-based trust, is designed to track the performance of Dogecoin.

本月初，21shares提交了S-1，以在SEC中註冊基於現貨的Dogecoin ETF。 ETF將以基於商品的信任結構結構，旨在跟踪Dogecoin的性能。

Nasdaq's filing, which is made Section 19(b)(1) of the 1934 Securities Exchange Act, discloses that 21Shares's Dogecoin ETF will be listed and traded on the exchange under its Rule 5711(d), which covers commodity-based trust shares.

納斯達克（NASDAQ）的申請是《 1934年證券交易所法》第19（b）（1）條，揭示了21shares的Dogecoin ETF將根據其規則5711（d）在交易所上列出和交易，該規則涵蓋基於商品的信託股份。

The Dogecoin ETF will be organized as a Maryland statutory trust, with 21Shares serving as the sponsor, manager, and third-party administrator. A trust company based in Maryland will act as the trustee, while Coinbase Custody will hold the ETF's Dogecoin on behalf of the trust.

Dogecoin ETF將被組織為馬里蘭州的法定信託基金，21shares擔任贊助商，經理和第三方管理員。馬里蘭州的一家信託公司將擔任受託人，而Coinbase監護權將代表該信託公司持有ETF的Dogecoin。

The investment objective of the 21Shares spot Dogecoin ETF is to provide investment results that correspond to the price return of Dogecoin.

21shares斑點Dogecoin ETF的投資目標是提供與Dogecoin價格回報相對應的投資結果。

It is a passive investment vehicle, which means it will not engage in speculative trading of DOGE or attempt to generate additional returns. Instead, the ETF aims to simply mirror the performance of Dogecoin through the CF DOGE-Dollar US Settlement Price Index.

它是一種被動投資工具，這意味著它將不會從事門檻的投機貿易或試圖產生額外回報。取而代之的是，ETF的目的是簡單地通過CF Doge-Doge-Molder US和解價格指數反映Dogecoin的性能。

Unlike some other types of ETFs that use derivatives, leverage, or buy assets at lower prices to sell at higher ones, this ETF is designed to track Dogecoin's price without any attempt to generate additional returns or capitalize on price changes.

與其他一些使用衍生品，槓桿作用或以較低價格購買的ETF不同，該ETF旨在跟踪Dogecoin的價格，而無需任何試圖產生額外的回報或資本變化。

This approach ensures that the 21Shares Dogecoin ETF remains straightforward, with no active management or speculative trading strategies. The goal is for the ETF to provide a reliable and transparent way for investors to gain exposure to Dogecoin's performance in the broader market.

這種方法可確保21shares dogecoin ETF保持直接，沒有主動的管理或投機交易策略。目的是讓ETF為投資者提供一種可靠且透明的方式，以使Dogecoin在更廣闊的市場中的表現獲得曝光率。

Along with 21Shares, Bitwise and Grayscale are also applying for approval of their own spot-based Dogecoin ETFs. These ETFs are designed to make it easier for traditional investors to access cryptocurrency markets, without the need for directly purchasing and managing digital assets.

除21shares外，Bitwise和Grayscale還申請批准其自己的基於點的Dogecoin ETF。這些ETF旨在使傳統投資者更容易訪問加密貨幣市場，而無需直接購買和管理數字資產。

NYSE Arca has already submitted exchange applications for Bitwise's Dogecoin ETF and Grayscale's converted Dogecoin Trust. The SEC has acknowledged these filings, and the final deadline for approval of these applications is October 11 and November 12, 2025, respectively.

NYSE ARCA已經提交了Bitwise的Dogecoin ETF和Grayscale Converted Dogecoin Trust的交換申請。 SEC已確認這些文件，批准這些申請的最終截止日期分別是2025年10月11日和11月12日。

If approved, Nasdaq would add the 21Shares Dogecoin ETF to its diverse range of products and services. The exchange is a leading platform for listing equities, ETFs, and other securities.

如果獲得批准，納斯達克將將21shares dogecoin ETF添加到其各種產品和服務範圍。該交易所是列出股票，ETF和其他證券的領先平台。

Earlier this year, Gemini announced the listing of two new institutional-grade Bitcoin futures ETFs on Nasdaq. These ETFs, issued by Gemini and managed by Factorial, are designed to provide investors with a liquid and transparent way to invest in Bitcoin futures contracts.

今年早些時候，雙子座宣佈在納斯達克上列出了兩個新的機構比特幣期貨ETF。這些ETF由雙子座發行並由階乘管理，旨在為投資者提供透明的方式，以投資比特幣期貨合約。

The SEC is expected to acknowledge Nasdaq's application for the 21Shares Dogecoin ETF within two weeks, which would officially begin a 240-day review period. During this time, the SEC will decide whether to approve or disapprove the application.

預計SEC將在兩週內確認納斯達克對21shares dogecoin ETF的申請，這將正式開始240天的審查期。在此期間，SEC將決定是批准還是不贊成申請。

The filing from Nasdaq also mentions that the SEC has made it clear that cryptocurrency coins like Dogecoin are not classified as securities. This is a key point for potential investors, as it highlights the regulatory landscape for cryptocurrencies in the U.S.

納斯達克（NASDAQ）提交的文件還提到，SEC明確表示，像Dogecoin這樣的加密貨幣硬幣未被歸類為證券。這是潛在投資者的關鍵點，因為它突出了美國加密貨幣的監管格局

In contrast to many other cryptocurrencies that have faced scrutiny by the SEC regarding their classification as securities, which has complicated the approval process for ETFs based on those assets, the SEC has stated that cryptocurrency coins are not to be classified as securities.

與SEC關於其將其分類為證券的許多其他加密貨幣相比，基於這些資產的ETF的批准過程變得複雜，SEC表示，加密貨幣硬幣不得歸類為證券。

This clarification from the SEC helps solidify Dogecoin's place in the financial ecosystem, as it is now officially recognized as a commodity rather than a security. Ultimately, the decision on whether to approve or disapprove the 21Shares Dogecoin ETF will rest with the SEC.

SEC的澄清有助於鞏固Dogecoin在金融生態系統中的地位，因為它現在正式被公認為是商品而不是安全性。最終，是否批准還是不贊成21shares dogecoin ETF的決定將在SEC中依靠。

Nasdaq's application to list the 21Shares Dogecoin ETF is part of a broader trend of increasing interest in cryptocurrencies among traditional financial institutions.

納斯達克列出21shares dogecoin ETF的應用是在傳統金融機構中對加密貨幣興趣增加的更廣泛趨勢的一部分。

As the industry continues to grow and evolve, we can expect to see more asset managers file applications for crypto ETFs, and existing asset managers expand their offerings in this rapidly developing asset class.

隨著行業的不斷發展和發展，我們可以期望看到更多的資產管理人員為加密ETF提交應用程序，而現有資產經理將其在這個快速發展的資產類別中擴展。