Nasdaq Files S-1 to List 21Shares Dogecoin ETF

The SEC has started the review and approval process for the ETF, which offers institutional investors direct exposure to Dogecoin.

Nasdaq has submitted an S-1 application to the U.S. Securities and Exchange Commission (SEC) to list the 21Shares Dogecoin ETF. The SEC has now begun the process of reviewing and approving the ETF, which will offer institutional investors direct exposure to Dogecoin.

The SEC will need to approve the ETF for it to launch. It will assess the submitted application and collect public feedback to determine whether it will approve or reject the ETF.

21Shares Dogecoin ETF

21Shares, a major asset manager, submitted the S-1 form to launch a spot Dogecoin ETF. The proposed fund will directly hold Dogecoin assets instead of depending on derivatives such as futures. The fund will use the CF Dogecoin-Dollar Settlement Price to track the Dogecoin price, which offers investors a regulated crypto investment product. The fund is structured as a trust and will be passively managed.

The SEC will review the application and collect public feedback before making a decision. The approval or denial of the Dogecoin ETF will be determined by whether the application meets regulatory standards.

21Shares’ application comes after the manager submitted a 19b-4 form this month to enable institutional access to Dogecoin. The proposed fund will not use leverage and derivatives, ensuring a direct investment approach. The ETF will provide passive income on the investments made in the fund. The fund enables shares to be purchased and redeemed in blocks of 10,000 shares in cash.

At least 75% Chance of DOGE ETF Approval in 2025

Nasdaq’s S-1 submission highlights its commitment to effectively monitoring the Dogecoin market. The exchange is a member of the Intermarket Surveillance Group (ISG), which aims to prevent market manipulation. These security measures ensure that the ETF complies with regulatory requirements.

21Shares has partnered with House of Doge, the corporate partner for Dogecoin Foundation, to promote the ETF. This partnership aims to boost marketing and licensing activities to improve the ETF’s penetration in retail and institutional markets. The Swiss-based company accomplished market success in Europe when it launched the Dogecoin Exchange Traded Product (ETP) on the SIX Swiss Exchange.

Other prominent asset managers such as Grayscale and Bitwise have also filed applications for DOGE ETFs. This reflects the increased institutional interest in meme coins like DOGE and could boost its market price. Additional DOGE-based ETFs could fuel institutional demand and likely propel DOGE’s price.

Moreover, the SEC is currently considering applications for several other crypto ETFs, including Bitcoin and Ethereum ETFs. Out of the 74 ETF applications submitted this year, 70 are for cryptocurrencies, indicating a strong focus on expanding the market for digital assets. If approved, the spot Dogecoin ETF will provide regulated and secure investment access to DOGE within the U.S. institutional market.