Nasdaq files to list 21Shares Dogecoin ETF

The United States exchange Nasdaq has actually asked regulators for consent to note a 21Shares exchange-traded fund (ETF) holding the popular memcoin Dogecoin, regulative filings reveal.

The relocation follows 21Shares’ April 10 filing of its preliminary proposition to release its Dogecoin ETF, soon after comparable applications from competitors Bitwise and Grayscale. The possession supervisor has actually likewise looked for regulators’ consent to list ETFs holding other cryptocurrencies, consisting of Solana (SOL), XRP (XRP), and Polkadot (DOT).

Nasdaq needs to acquire approval from the Securities and Exchange Commission (SEC) before it can note and trade the fund. The demand totals up to a regulative evaluation procedure that might figure out whether Dogecoin ends up being available to a more comprehensive series of financiers through an ETF structure.

Related: 21Shares declare area Dogecoin ETF in the United States

Attack of altcoin ETFs

Fund providers asked for to note lots of altcoin ETFs after United States President Donald Trump advised the SEC to take a friendlier position towards cryptocurrencies after his 2nd term started in January.

Since April 21, more than 70 crypto ETFs were waiting for the SEC’s evaluation. The list consists of alternative layer-1 (L1) native tokens, such as SOL and Sui (SUI), along with memecoins such as Bonk (BONK) and Authorities Trump (TRUMP).

While exchanges such as Nasdaq look for to note more crypto ETFs, they are likewise promoting firmer United States regulative oversight of digital properties. In an April 25 remark letter, Nasdaq advised the SEC to hold digital properties to the very same regulative requirements as securities if they make up “stocks by any other name.”

Dogecoin energy

Dogecoin (DOGE) is a popular memecoin with a market capitalization of almost $26 billion since April 29, according to CoinGecko.

It stands out from a lot of other memecoins due to the fact that DOGE is the native token of the Dogecoin network.

The proof-of-work blockchain network is created as a much faster, more affordable option to Bitcoin (BTC) for peer-to-peer payments.

It processed more than 40,000 deals in the previous 24 hr, according to information from Bitinfocharts.com.

In September 2024, blockchain designers QED Procedure and Nexus tipped strategies to release a layer-2 (L2) scaling option created to bring wise agreements to Dogecoin.

Publication: Altcoin season to strike in Q2? Mantra’s strategy to win trust: Hodler’s Digest, April 13– 19