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Another Application for Dogecoin ETF: Came with Partnership! - Coin Bulletin
21Shares announced that it has established a special partnership with House of Doge while applying for a spot ETF based on Dogecoin to the US Securities and Exchange Commission (SEC).
The crypto investment firm 21Shares has submitted official documents to the U.S. Securities and Exchange Commission (SEC) for a Dogecoin-focused spot ETF application. With this move, the company aims to make Dogecoin investments more transparent and institutional. The name of the fund applied for has been announced as 21Shares Dogecoin ETF.
21Shares announced that it has formed a special partnership with House of Doge for the fund's launch. The funds created within the scope of this collaboration will be directly supported by the Dogecoin Foundation. Thus, investors will have the chance to track the DOGE price without purchasing Dogecoin.
(# A new door for institutional investments
Jens Wiechers, a member of the Dogecoin Foundation advisory board, stated that Dogecoin emerged as a fun meme coin but has now found significant use cases in areas such as payment systems, donations, and tips. Wiechers noted that the collaboration with 21Shares would enable institutional investors to access Dogecoin in a safe and regulated manner.
21Shares President Duncan Moir stated that the increasing popularity of Dogecoin holds a critical place in the digital asset market and this partnership will bring transparency and institutionalization to the market.
The SEC postponed its decision regarding the ETF applications based on Litecoin )LTC(, Dogecoin )DOGE###, Solana (SOL), and Ripple (XRP) last month. Experts believe that these delays are due to the anticipation of Paul Atkins being appointed as the new SEC Chairman. Atkins is known to be more crypto-friendly compared to former chairman Gary Gensler.
According to CoinGecko data, DOGE, with a market value of approximately 24 billion dollars, is the eighth largest cryptocurrency in the world. At the time of the news preparation, the price of DOGE was trading at 0.157 dollars.