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Nasdaq Aims for SEC Approval of 21Shares Dogecoin ETF Amid Strong Market Interest

Nasdaq is seeking approval from the U.S. Securities and Exchange Commission (SEC) to list a Dogecoin ETF managed by 21Shares.

This innovative ETF aims to provide investors with indirect access to Dogecoin (DOGE) through traditional brokerage accounts.

In its proposal, Nasdaq highlighted that the ETF will track DOGE's performance without using leverage or derivatives, focusing solely on actual Dogecoin holdings.

The Trust, structured as a passive investment vehicle, will utilize the CF DOGE-Dollar US Settlement Price Index for performance tracking.

Nasdaq's surveillance mechanisms will monitor trading activities to ensure compliance with federal securities laws.

If approved, this ETF would be a significant addition to the rising interest in crypto ETFs, following similar approvals for Bitcoin and Ethereum.

The SEC has recently faced pressure from asset managers to approve various altcoin ETFs, including those for Dogecoin and XRP.

As the regulatory landscape for cryptocurrencies evolves, there is optimism that 2023 could see more altcoin ETFs gaining SEC clearance.

The move reflects growing institutional interest in the crypto market and aims to enhance Dogecoin's legitimacy within traditional finance.

Investors are keenly awaiting the SEC's decision, with potential implications for the broader adoption of cryptocurrencies in investment portfolios.