Asset manager 21Shares has officially filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for the launch of a Spot Dogecoin (DOGE) exchange-traded fund (ETF). This move positions 21Shares as the third entity, following Grayscale and Bitwise, to seek approval for a Dogecoin ETF.
The filing comes as Dogecoin’s price shows signs of recovery, following a significant drop that saw the coin’s value fall to as low as $0.14 amidst a recent wave of sell-offs.
As part of the filing process, 21Shares plans to submit a 19b-4 form through an exchange, marking the next step toward potential approval from the SEC. The asset manager has also launched a Dogecoin Exchange-Traded Product (ETP) on the SIX Swiss Exchange, in partnership with the House of Doge. If the SEC grants approval for the ETF, the two parties will collaborate to market the fund, with the House of Doge, the corporate arm of the Dogecoin Foundation, assisting in promotional efforts.
Coinbase, the leading cryptocurrency exchange, will serve as the custodian for the trust holding the Dogecoin. This ETF is designed to provide institutional investors with a new pathway to gain exposure to Dogecoin, the popular meme coin.
This filing has sparked positive sentiment around Dogecoin, as the move is expected to foster greater adoption and encourage more investment inflows into the Dogecoin ecosystem.
Furthermore, crypto analyst Kevin Capital pointed out a daily bullish divergence emerging on Dogecoin’s chart, driven in part by the news surrounding the ETF filing. He also noted that Dogecoin’s price rally coincides with broader market news, including a decision by former President Donald Trump to suspend reciprocal tariffs for 90 days—a development that has buoyed the broader cryptocurrency market.
Despite this optimistic outlook, analysts remain cautious about whether this momentum will result in a genuine bullish reversal or merely a “bear trap.” Crypto expert Master Kebobi has suggested that the bottom for Dogecoin may have already been reached, predicting that the coin could surge toward the $1 mark in the coming months.
The crypto community and investors will be watching closely to see if the SEC grants approval to 21Shares, which could potentially reshape the landscape for Dogecoin and its place within institutional investment portfolios.
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