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- 21Shares has updated its Dogecoin ETF filing, confirming the TDOG ticker and readiness for Nasdaq listing despite the SEC delay.
- Analysts see rising optimism as Dogecoin price jumps following progress on ETF approvals and strong market sentiment.
21Shares has updated its application for a spot Dogecoin ETF as it waits for approval from the U.S. Securities and Exchange Commission (SEC). The filing confirms “TDOG” as the official ticker and shows the company is ready to list the fund on Nasdaq once the SEC gives the go-ahead. The decision has been delayed because of the extended U.S. government shutdown.
21Shares Dogecoin ETF Moves Closer to Launch
As mentioned in our previous news brief, the latest filing from 21Shares gives more details about how the Dogecoin ETF will operate. Additionally, the fund will follow the price of Dogecoin based on the CF Dogecoin-Dollar U.S. Settlement Price Index.
Coinbase Custody Trust Company has been named as the custodian, meaning it will hold the Dogecoin for the fund. More so, Wilmington Trust NA will act as the trustee, while Foreside Global Services will handle marketing, and Cohen & Company will serve as the accounting firm.
The document also shows that 21Shares plans to use $1.5 million to buy Dogecoin before the ETF begins trading. This seed money will help the fund start on a solid footing once trading begins on Nasdaq. The company has not yet revealed its management fee, saying it may wait for other issuers to disclose theirs first.
However, it stated that the sponsor fee will build up daily and be paid in Dogecoin every two weeks. The filing also includes small updates to risk factors and other language to meet SEC requirements. By doing so, 21Shares is signaling it is ready to move once regulators reopen and resume reviews of pending crypto ETF applications.
Growing Confidence in Dogecoin ETF Approval
Still, market watchers have become more confident about approval for Dogecoin ETFs. Analysts from Bloomberg have raised their expectations for approval to 99 percent, pointing to the growing number of amended filings. The 21Shares Dogecoin ETF has already been listed with the Depository Trust & Clearing Corporation (DTCC), a necessary step before the fund can begin trading.
Similarly, the security agency missed the final decision deadline for the Grayscale Dogecoin ETF on October 18 because of the government shutdown. Experts such as Nate Geraci and Eric Balchunas believe that when the shutdown ends, the SEC may approve several pending crypto ETFs at once.
Excitement around the sector also grew after executives from Ripple, Coinbase, Chainlink, Galaxy, Kraken, Uniswap, and Circle are set to meet with pro-crypto lawmakers this week. Since this development, Dogecoin’s price rose more than 3.2% in the past day to $0.2003.
Meanwhile, as highlighted in our previous news brief, analysts expect it could move toward $0.29 and possibly higher if the Dogecoin ETF receives approval soon.
