tl;dr
Nasdaq has filed with the US SEC to list the 21Shares Spot Dogecoin ETF, providing investors passive exposure to Dogecoin without leverage or derivatives. Coinbase will be the custodian, and pricing will use the CF DOGE-Dollar US Settlement Price Index. Nasdaq highlighted its surveillance capabiliti...
Nasdaq has filed a 19b-4 form with the US Securities and Exchange Commission (SEC) to support the listing of the 21Shares Spot Dogecoin (DOGE) Exchange-Traded Fund (ETF), marking a significant milestone toward mainstream crypto acceptance.
This proposed ETF offers investors passive exposure to Dogecoin without involving leverage, derivatives, or speculative trading. Coinbase will act as the custodian, and the ETF's pricing will be determined by the CF DOGE-Dollar US Settlement Price Index.
Nasdaq emphasized its advanced surveillance capabilities to prevent market manipulation, facilitated through its membership in the Intermarket Surveillance Group (ISG). This access to real-time information sharing allows it to monitor suspicious trading activities such as spoofing, marking the close, and pinging.
The filing highlights Dogecoin’s evolution from a joke cryptocurrency to the eighth-largest digital asset, with a market cap around $26.5 billion. Alongside Nasdaq and 21Shares, other firms like Grayscale and Bitwise have also submitted applications for similar spot Dogecoin ETFs, demonstrating increasing industry confidence in broadening crypto investment options beyond Bitcoin and Ethereum.
Despite the positive momentum, market participants on decentralized prediction platforms estimate only a 59% probability that the SEC will approve a Dogecoin ETF before the end of the year, underscoring ongoing regulatory caution.
This development signifies a growing trend toward integrating meme coins like Dogecoin into regulated financial markets, potentially expanding investor access and legitimacy for alternative cryptocurrencies.