The U.S. Securities and Change Fee (SEC) has acknowledged a Dogecoin (DOGE) exchange-traded fund (ETF) submitting by 21Shares.
This comes after the SEC additionally moved to begin reviewing the same Dogecoin ETF submitting from Grayscale in early February.
The acknowledgment signifies that the regulatory company has added the applying to the general public document and kicked off a evaluation course of. It takes the SEC as much as 240 days to determine whether or not it ought to approve or reject a sure ETF.
After all, the truth that the SEC has merely acknowledged an ETF submitting doesn’t essentially imply that it’s going to finally be greenlit.
It took spot Bitcoin ETFs greater than a decade to lastly receive approval from the SEC. With altcoins, nevertheless, issues are transferring at a a lot sooner tempo with the brand new crypto-friendly SEC administration.
In late April, the SEC delayed pot Dogecoin ETF functions from Bitwise. In early March, it additionally postponed its choice on Grayscale’s submitting.
21Shares initially joined the Dogecoin ETF race on Apr. 10.