Dogecoin sees a spectacular surge following the filing of a Dogecoin ETF by 21Shares. The DOGE token price skyrockets, reigniting excitement around this essential memecoin in the crypto market!
On April 9, 2025, 21Shares officially submitted a Form S-1 to the SEC, sparking a wave of excitement in the crypto market. This filing marks the first serious attempt to launch a Dogecoin spot ETF. This financial product would faithfully track the DOGE price by holding the asset itself.
21Shares’ goals are clear:
In this regard, 21Shares also filed Form 19b-4 with the SEC. This step is particularly crucial as it allows the fund to be listed on a national exchange like NASDAQ.
Specifically, this document formalizes the rule change request necessary for the introduction of the new ETF. This is a strong signal, confirming the intent for a swift launch that complies with regulatory requirements. But there’s more! It also triggers a 240-day countdown during which the SEC must approve or reject the application.
Overall, this positioning makes 21Shares the current leader in the race for exchange-traded funds based on altcoins. Supported by a partnership with House of Doge, their project also aims to enhance the image of the Dogecoin meme. The company’s ambition is clear: to demonstrate that “Dogecoin is Money”.
Immediate result: the DOGE price surged by 12%, reaching $0.16. A momentum that few expected for a crypto asset initially seen as just a joke!
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21Shares’ initiative paves the way for a new era for Dogecoin. However, it now depends on a crucial regulatory approval. Known for its rigor, the SEC will have to determine the status of the memecoin: security or commodity?
With Paul Atkins leading the commission under the Trump administration, the climate seems more favorable. Yet, obstacles remain. Reference is made to DOGE’s volatility and satirical origins, which could hinder approval.
That being said, crypto analysts estimate a 75% probability for such funds to emerge (just behind Litecoin!).
Other players like Grayscale and Bitwise have also filed applications. This underscores massive interest in altcoins within the realm of exchange-traded funds. If approved, Dogecoin could become the third crypto asset to have a spot ETF after Bitcoin and Ethereum.
With this strategic filing, 21Shares is certainly giving Dogecoin a new boost. Approval of a Dogecoin ETF could turn the memecoin into a cornerstone of institutional financial products. The moon has never seemed closer for DOGE!
Léa is a member of the InvestX team, dedicated to guiding users through their learning journey. Passionate about cryptocurrencies, she closely follows market trends. On InvestX.fr, Léa writes articles to help readers decode the latest news and stay informed about the ever-evolving blockchain world.
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