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Nasdaq Wants SEC Approval for Dogecoin ETF – Is This the Future or Just a Meme?

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So, What’s Happening?

  • The Nasdaq exchange, in its infinite wisdom, has decided to file a form with the SEC, requesting approval to list and trade shares of the 21Shares Dogecoin ETF. Yes, you read that right—Dogecoin, the currency that was once a joke, now has its own ETF.
  • 21Shares has partnered with the “House of Doge” (which sounds like a title from a cheesy action movie) to submit an S-1 registration for the ETF, which aims to track the ever-so-reliable performance of Dogecoin.
  • Coinbase Custody Trust will take the oh-so-important role of holding the ETF’s DOGE—no leveraging, no derivatives, just pure, unfiltered Dogecoin. Keep your fingers crossed!

On Tuesday, the Nasdaq exchange, which I’m sure has *so* many better things to do, filed a 19b-4 form with the SEC. The purpose? To list and trade shares of the 21Shares Dogecoin ETF. Just imagine the conversations at the SEC right now: “So, you want to trade Dogecoin like it’s a serious asset? Sure, why not.”

21Shares, in a bold move, submitted an S-1 registration with the SEC on April 10. And for those of you unfamiliar with the high-stakes world of finance, this means that a company called the House of Doge—no, it’s not a fairy tale—helped to push this ETF along. Their aim? To make Dogecoin a mainstream financial product. Oh, the irony!

This ETF, in case you were wondering, plans to track the *stellar* performance of Dogecoin. The benchmark? The CF DOGE-Dollar US Settlement Price Index, of course. But don’t worry, they’ll adjust for expenses. Because what’s an investment vehicle without a few fees to keep things interesting?

In its humble quest, this ETF will hold DOGE directly, with no fancy leverage, derivatives, or any of those risky investments that might confuse the average person. The plan is simple: just pure Dogecoin—like grandma’s homemade cookies, but with more volatility and memes.

Coinbase Custody Trust, in all its glory, will serve as the official custodian for the fund’s DOGE tokens. Because who else would you trust with your precious memes, if not Coinbase? It’s not like there’s any history of mishaps with cryptocurrency exchanges, right?

Oh, and just when you thought this might be the final word, the SEC decided to put a pin in Bitwise’s spot DOGE ETF application, postponing its decision until June 15. So, while Nasdaq is busy trying to get approval, others are twiddling their thumbs waiting for their turn.

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2025-04-30 14:21

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