Nasdaq to apply for listing of 21Shares Dogecoin ETF following SEC approval

• Nasdaq Seeks Approval to List 21Shares Dogecoin ETF
• 21Shares Dogecoin ETF Expands Institutional Access to Dogecoin
• Dogecoin sees lower volume ahead of SEC decision

Nasdaq has filed an application with the U.S. Securities and Exchange Commission (SEC) to list and trade the 21Shares Dogecoin ETF. The proposal calls for the fund to track the DOGE-USD index, with management by 21Shares US LLC and calculation provided by CF Benchmarks.

Nasdaq’s move could make it easier for retail and institutional investors to access Dogecoin, strengthening the cryptocurrency’s reach in the traditional financial market. The ETF’s listing could represent an important step forward in the integration of memecoins into the regulated environment.

The registration request was filed under Nasdaq Rule 5711(d), detailing that management will be the responsibility of 21Shares US LLC, while custody of Dogecoin assets will be handled by Coinbase Custody Trust Company. The ETF will have a structure based on subscription and redemption only in cash, without the use of derivatives or leverage, prioritizing direct and transparent exposure to the digital asset.

“We urge the SEC to treat digital assets with standards comparable to traditional securities if they function in the same way,” Nasdaq said in a letter sent on April 25.

The potential approval of the Dogecoin ETF could expand Nasdaq's presence in the cryptocurrency market, expanding its portfolio beyond large-cap assets like Bitcoin and Ethereum.

Dogecoin is currently trading at $0,187 with an estimated market cap of $26,49 billion. The proposed listing of the 21Shares Dogecoin ETF reflects the growing interest in offering new investment alternatives in cryptocurrencies, especially those based on popular assets like Dogecoin.