The fields of cryptocurrency and digital assets are continuously changing and meanwhile, the major digital asset manager 21Shares has filed to launch the Spot Dogecoin ETF near US Securities and Change Fee (SEC). This step has been taken with the aim of attracting more investors in the crypto market and bringing digital currency like Dogecoin into mainstream. In this article, we will discuss this new effort of 21Shares and understand how this can benefit Crypto investors.
21shares and Spot Dogecoin ETF plans
21Shares have made an application with SEC in which it keeps Motiv to launch Spot Dogecoin ETF. This ETF, Dogcoin Worth Will track, which is currently trading around $ 0.1548. Its market cap is $ 24.2 billion. The aim of 21Shares is to provide a safe and secure path to the investors of Dogecoin through this ETF, so that they can invest in directly digital currency.
Coinbase Custody Custodian Roll
21Shares have mentioned in their filing that Coinbase Custody will be the custodian of this ETF. However, no information has been given about the ETF fee, ticker or listing exchange so far. The role of Coinbase Custody is important here as it will help investors to protect digital assets. Through this, investors will be able to keep their investments safely on a trusted platform.
Expansion of Crypto ETF of 21Shares
This step of 21Shares is an important move towards expanding its Crypto ETF Choices. The company has already launched spot bitcoin and ether ETF and is now focusing on Polkadot and XRP ETFS. The aim of 21Shares is to give more options to investors in the Crypto Market, so that they can invest in Various Digital Assets. This will help in bringing cryptocurrency into mainstream.
Investment management company according to previous reports Franklin Templeton applied to SEC to launch XRP ETF Has given. This move of the company is taken after the registration of Franklin XRP Agree With in Delaware.
Prophecy of market analyst
Bloomberg ETF’s Analysts James Seyffart and Eric Balchunas believe that SEC’s possibility of approving Spot Dogecoin ETF in 2025 is 75%. Whereas on a betting platform called Polymarket, its possibility is defined 64%. Thus, according to analysts, SEC has a good chance to approve this ETF. If SEC approves, this will be another major step in the cryptocurrency sector.
Space of Doge and Six Swiss Change on DOGECOIN ETP
21Shares have announced the launch of Dogecoin ETP on Six Swiss Change together with Space of DOGE. This ETP will be fully backd and its trading tick will be “dog”. 2.5% annual fee will be charged on this ETP. This will give investors another legal and safe way to invest in dogcoin, which will be completely under regulatory control.
Conclusion
The move to launch the Spot Dogecoin ETF of 21Shares is an important milestone in the world of cryptocurrency. This not only provides a new investment facility for Dogecoin’s investors, but is also important for the purpose of bringing the crypto market into the mainstream. After the approval of SEC, this will be another protected and controlling way to invest in dogcoin for investors of ETF. It will now be seen when SEC approves this proposal and how it is introduced to Crypto investors.
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