The Securities and Exchange Commission (SEC) has approved 21 shares’ filing of the Dogecoin (Doge) Exchange-Traded Fund (ETF).
This comes after the SEC moved to begin reviewing similar DogeCoin ETF submissions from Grayscale in early February.
Acknowledgements mean that the regulator has added an application to the public record and has begun the review process. It takes up to 240 days for the SEC to decide whether to approve or reject a particular ETF.
Of course, the fact that the SEC simply admitted ETF filing does not necessarily mean that it will ultimately become a green light.
A Spot Bitcoin ETF was required for over a decade to ultimately get approval from the SEC. However, with Altcoins, things are moving at a much faster pace thanks to new crypto-friendly SEC management.
In late April, the SEC delayed the Pot Dogecoin ETF application from Bitise. In early March, the decision to submit greyscale was also postponed.
21Share originally participated in the Dogecoin ETF race on April 10th.
