21Shares Files for Spot Dogecoin ETF with SEC Amid Rising Market Sentiment
- 21Shares has filed for a ETF focused on Dogecoin, with management fees yet to be disclosed.
- The filing indicates that the sponsor fee will accrue daily and be payable in DOGE bi-weekly in arrears.
- Wilmington Trust NA is named as the trustee, while Foreside Global Services will act as the marketing agent.
- The U.S. SEC missed the deadline for approving the Grayscale Dogecoin ETF on October 18 due to a government shutdown.
- Market sentiment is buoyed by expectations that the SEC may approve multiple crypto ETFs simultaneously once operations resume.
- At press time, DOGE price increased over 6% to $0.20, with analysts predicting potential recovery targets of $0.29 and higher if approvals occur.
The filing for the Dogecoin ETF comes amid heightened optimism for crypto ETF approvals following a prolonged U.S. government shutdown that delayed previous decisions by the SEC.
As of now, DOGE has rebounded to $0.20, reflecting a significant market response as investors await potential regulatory developments from the SEC regarding crypto ETFs.(Source)
