The Nasdaq exchange has submitted a new application to the U.S. Securities and Exchange Commission (SEC) for the registration of a spot Dogecoin ETF, filed by 21Shares. This application is made on Form 19b-4 and is an addition to the previously submitted Form S-1.
This is reported by Finway
Launching the Dogecoin ETF: Necessary Steps
For the new product to be launched, the SEC must approve both submitted forms. It is worth noting that 21Shares previously announced plans to launch a spot Dogecoin ETF in early April 2025. At the same time, a Form S-1 application was also submitted to the SEC.
Initially, it was planned that the Dogecoin ETF would be offered exclusively in the European market, trading on the SIX Swiss Exchange platform. However, after that, 21Shares also decided to apply to the SEC, stating that it is collaborating with the House of Doge as part of an initiative to offer exchange-traded products based on assets.
Features of the New Product and Competition
The 21Shares product will invest directly in Dogecoin (DOGE), making it a spot ETF. Coinbase Custody will act as the custodian, while the House of Doge will provide support, including product promotion.
It is important to note that the Dogecoin price in the market has remained virtually unchanged and continues to trade on the weekly chart with a decline of over 5%. According to data from the Binance exchange, the DOGE/USDT pair shows some stability.
In addition to 21Shares, two other companies – Grayscale Investments and Bitwise – have also submitted applications to the SEC for the launch of spot Dogecoin ETFs. The Commission has decided to postpone the review of their applications along with other matters in March 2025.