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Nasdaq Pursues SEC Green Light for 21Shares Dogecoin ETF as Market Buzz Grows

In a strategic move, Nasdaq has applied to the U.S. Securities and Exchange Commission (SEC) for approval to list a 21Shares exchange-traded fund (ETF) focused on Dogecoin.

This follows a flurry of similar applications from firms like Grayscale and Bitwise, all eager to tap into the growing crypto market.

The 21Shares Dogecoin ETF aims to track the price of the prominent meme coin, which has surged in popularity recently.

The SEC is currently reviewing more than 70 crypto ETF applications, reflecting a shift in its approach to digital asset regulation.

Industry analysts are optimistic about the SEC potentially approving several Dogecoin ETFs this year due to the changing regulatory landscape.

Dogecoin's market capitalization stands at $76.3 billion, establishing it as the eighth largest cryptocurrency.

A successful listing could enhance Dogecoin’s presence in mainstream finance, as endorsed by the Dogecoin Foundation's corporate arm.

Since the approval of spot Bitcoin and Ethereum ETFs earlier this year, market sentiment around crypto ETFs has been on the rise.

As the financial world watches closely, the SEC's decisions will significantly influence the future of cryptocurrency investment opportunities in the U.S.

Investors are hopeful that regulatory clarity will unlock broader acceptance and participation in the crypto ecosystem.