Digital Asset Manager 21Shares filed with the Securities and Exchange American Commission to launch a fund translated on the exchange of Dogecoin, following similar deposits of Rivaux Bitwise and Grayscale.
The FNB 21Shares Dogecoin would seek to follow the price of the same Dogecoin (DOGE), according to the S-1 registration declaration of the S-1 form of April 9. The company branch of the Dogecoin Foundation, House of Doge, plans to help 21Shares to market the fund.
21Shares said that Coinbase police custody would be the proposed guardian of his ETF of Dogecoin, but did not specify any fees, DIY or the scholarship to which he would list.
Source: James Seyffart
21Shares must also submit a 19B-4 file to the SEC to launch the regulator approval process for the fund.
DOGE currently has a market capitalization of 24.2 billion dollars and is the eighth largest cryptocurrency per value. It was created in 2013 as a joke and is a fork of coins, which is itself a bitcoin fork.
The proposed FNB Dogecoin of 21Shares is the last effort of the company to extend its SPOT Crypto ETF offers, which currently includes only a Bitcoin (BTC) and Ether (ETH) fund.
The transmitter also deposited with the SEC in February to launch an ETF Spot Polkadot (dowry) and last year, he placed a place to create an XRP ETF (XRP).
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The recent increase in the Crypto ETF deposits reflects a “approach to Canon Spaghetti” from the issuers testing what the new dry management could approve, said Bloomberg ETF analyst James Seyffart in February.
“The issuers will try to launch a lot of different things and see what sticks,” said Seyffart.
Eric Balchunas, analyst Eric Balchunas, Eric Balchunas de Seyffart and Bloomberg, said in February that there was a 75% chance that the SEC approves an ETF of Dogecoin Spot this year, while the Polymarket of the Paris platform is currently giving a 64% approval ratings.
21Shares and House of Doge Partner for Doge Funds in Switzerland
21Shares also declared on April 9 that he had associated himself with House of Doge to launch a negotiated product in exchange for Dogecoin entirely supported on the six Swiss exchanges in Switzerland.
The 21Shares Dogecoin product will be negotiated under the “Doge” of the Ticker with costs of 2.5%.
21Shares President Duncan Moir said that Dogecoin “has become more than cryptocurrency: it represents a cultural and financial movement which continues to stimulate traditional adoption, and Doge offers investors an avenue regulated to be part of this exciting project.”
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