Spot Dogecoin ETF
You may be approaching reality.
The ETF issuer renewed its DogeCoin ETF regulatory application on Thursday, according to one expert.
“Bitwise has submitted a revised S-1 to the Spot Dogecoin ETF and the Spot Aptos ETF,” writes Eric Baltunas of Bloomberg Intelligence. “Tracking with other spot approvals and good signs of SEC engagement.”
Also noteworthy is the fact that the submission of the Dogecoin ETF has been amended to include redemption and creation. This means that broker-dealers interacting with ETFs can trade stocks directly with Doge tokens, and vice versa.
“At this point, it’s close to the lock, and the kind is allowed in spot ETFs on the board,” Bulknath added.
Currently, all US-based Crypto ETFs must exchange tokens for cash and then the cash for stocks (or exchange stocks for cash and then token cash).
This news doesn’t help prices much. Doge has been down about 2% in the last 24 hours to $0.16.
21Shares also applied for the Dogecoin ETF, but Grayscale applied for the Dogecoin Trust for a 2.5% fee.
