The United States Exchange Nasdaq has requested regulators for permission to list a 21shares exchange-traded fund (ETF) holding the famous Memcoin Dogecoin, regulation filings Show.
Step follows the filing of 21shares’ April 10 of its initial proposal To launch Dogecoin ETFShortly after similar applications from rival bitwise and grayscale. The asset manager is also there regulators’ consent is demanded To list ETFs holding other cryptocurrencies, including Solana (Sol), XRP (XRP), and polkadot (Dot).
The NASDAQ must obtain approvement from the Securities and Exchange Commission (SEC) before it is listed and exchanged funding. The request is worth a regulatory evaluation process that can determine whether Dogecoin can be accessible to a wider range of investors through an ETF structure.
Related: 21shares file for spot Dogecoin ETF in the US
Overslaught of altcoin etf
Fund issues requested List Dose -DoMos of Altcoin’s ETFs After US President Donald Trump ordered the SEC to make a lovely stance toward the cryptocurrencies after his second term began in January.
Until April 21, more than 70 crypto etf Awaiting the review of Sec. The list includes alternative layer-1 (L1) native token, such as Sol and Sui (Sui), as well as memecoins like bonk (Bonk) and official Trump (Trump).
While exchanges like Nasdaq seek to list more Crypto ETFs, they also force Firmer US Regulatory Oversight of Digital Assets. In a letter of comment on April 25, Nasdaq urged the SEC to hold digital assets with the same regulation standard as security if they form “stock of any other name.”
Dogecoin’s utility
Dogecoin (Doge) is a popular memecoin with a market capitalization of nearly $ 26 billion until April 29th, According to In coingecko.
This is different from most other memecoins because the Doge is the Dogecoin network native token.
The proof-of-work blockchain network is designed as a faster, cheaper alternative to bitcoin (Btc) for peer-to-peer payments.
It processed more than 40,000 transactions in the past 24 hours, according to Data From BitinginFoCharts.com.
In September 2024, blockchain developers QED Protocol and Nexus tap plans to launch a Layer-2 scale solution (L2) designed to Bring wise contracts to Dogecoin.
Magazine: Altcoin season to hit in Q2? Mantra plans to win trust: Hodler’s Digest, April 13 – 19
