Source: Cointelegraph
Original: “Nasdaq Files to List 21Shares Dogecoin (DOGE) ETF”
The Nasdaq Stock Exchange has applied to regulators for permission to list the 21Shares exchange-traded fund (ETF) that holds the popular Dogecoin (DOGE).
This move follows 21Shares' submission of its preliminary proposal for the Dogecoin ETF on April 10, after competitors Bitwise and Grayscale also filed similar applications.
The asset management company is also seeking regulatory approval to list ETFs that hold other cryptocurrencies, including Solana (SOL), Ripple (XRP), and Polkadot (DOT).
Before listing and trading the fund, Nasdaq must obtain approval from the U.S. Securities and Exchange Commission (SEC). This request has entered the regulatory review process, which may determine whether Dogecoin can be made accessible to a broader range of investors through the ETF structure.
Fund issuers have applied to list dozens of altcoin ETFs after U.S. President Trump directed the SEC to adopt a more favorable stance toward cryptocurrencies following the start of his second term in January.
As of April 21, over 70 cryptocurrency ETFs are awaiting SEC review. The list includes Layer-1 (L1) native tokens such as Solana (SOL) and Sui (SUI), as well as meme coins like Bonk (BONK) and Official Trump (TRUMP).
Meanwhile, exchanges like Nasdaq are pushing for stricter U.S. regulations on digital assets while seeking to list more cryptocurrency ETFs. In a comment letter dated April 25, Nasdaq urged the SEC to apply the same regulatory standards to digital assets as to securities if they constitute "another form of stock."
Dogecoin (DOGE) is a popular meme coin, with a market capitalization of nearly $26 billion as of April 29, according to CoinGecko.
Unlike most other meme coins, DOGE is the native token of the Dogecoin network.
The proof-of-work blockchain network is designed to serve as a faster and cheaper peer-to-peer payment alternative to Bitcoin (BTC).
According to Bitinfocharts.com, Dogecoin processed over 40,000 transactions in the past 24 hours.
In September 2024, blockchain developers QED Protocol and Nexus plan to launch a layer 2 (L2) scaling solution aimed at bringing smart contracts to Dogecoin.
Related: Nasdaq Urges SEC to Treat Certain Digital Assets as "Another Form of Stock"
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