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21Shares Files Spot Dogecoin ETF With SEC, Partners With House of Doge for New Fund
In a move that is expected to send shockwaves through the cryptocurrency market, 21Shares has filed a spot Dogecoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This development comes as the crypto markets react to the pause in new U.S. tariffs announced by former President Donald Trump.
According to reports, the proposed ETF will allow investors to track the price of DOGE without having to buy the token directly. 21Shares has been successful with its Bitcoin and Ethereum-based ETFs, which have garnered significant assets under management. The company aims to bring a similar level of accessibility to Dogecoin by providing a regulated platform for investors.
The filing is particularly noteworthy given the recent confirmation of Paul Atkins as the new chair of the SEC. Analysts believe that this development could significantly influence the speed and outcome of pending ETF applications, including proposals for Litecoin, Solana, XRP, and Dogecoin itself. The SEC has delayed several such requests in recent times.
In a surprise move, 21Shares also announced an exclusive partnership with House of Doge, a project backed by the Dogecoin Foundation. This initiative will provide financial backing to funds that have gained approval from the said foundation. Furthermore, it was revealed that the partnership includes the launch of a fully-backed Dogecoin exchange-traded product (ETP) on the SIX Swiss Exchange under the ticker “DOGE”.
The DOGE-pegged ETP will reportedly be open-source and accessible for all users. This development is significant as it may help to legitimize Dogecoin’s value proposition, which has been a major sticking point for institutional investors in the past.
In related news, Dogecoin, Ethereum, and XRP have all experienced substantial price increases following this announcement. Bitcoin, too, surged by 6.73% to $82,067. Solana was not left out of the action, rising by an impressive 13%.
It remains to be seen how the market will react in the coming days as investors digest this news and anticipate potential changes in the regulatory landscape under the leadership of Chairman Atkins.
Source: https://cryptonewsland.com/21shares-files-spot-dogecoin-etf-with-sec-partners-with-house-of-doge-for-new-fund/
