The decision to introduce an ETF Spot Dogecoin (DOGE) on the American market now includes three asset managers focused on the crypto, with 21shares joining the bit and the gray scale.
The Crypto Asset Manager based in Switzerland submitted an initial S-1 file on Thursday to the Securities and Exchange American Commission.
The fund would be kept by 21Shares and Coinbase. The management fees as well as the Ticker and the Stock Exchange would list the fund have not yet been announced. Whatever the exchange that ends up being, a document 19B-4 will have to be filed with the SEC to make the submission official and link the regulator to a date of decision.
As part of the file, the company has concluded a partnership with the company’s business branch, House of Doge, which will help market the fund.
If an ETF DOGE is approved, it would become the first ETF that would follow a piece of memes, a cryptographic asset which was created as a joke. But Doge has long been evolved in addition to that, inspiring the name of the latest government initiative, the Ministry of Government Effectiveness (DOGE) which is led by Elon Musk.
DOGE is currently the 9th largest crypto currency by market capitalization at 23 billion dollars.
