Well, well, well, it seems that the U.S. Securities and Exchange Commission (SEC), the self-proclaimed watchdog of all things financial, has given a little nod to the filing of a Dogecoin (DOGE) exchange-traded fund (ETF) from 21Shares. Yes, you heard that right, an actual acknowledgment, not a “Yes, let’s do it,” but a very official-sounding “We’ll consider it.”
It’s like when your aunt says, “I’ll think about it” after you ask for a second helping of dessert – it doesn’t really mean yes, but it does give you a tiny glimmer of hope.
But wait! There’s more! This comes after the SEC decided to start reviewing another similar Dogecoin ETF filing from Grayscale earlier this year in February. You know, just a casual “hey, we’ll have a look at it” kind of thing.
Now, this acknowledgment doesn’t mean we should be buying up Dogecoin like it’s going out of style, though. The SEC has kindly added the application to the public record, and so the review process begins. Don’t get too excited – it takes up to 240 days for the SEC to decide whether to give the green light, or toss it into the ever-growing pile of “We’ll get to this later” requests.
Of course, just because the SEC has acknowledged an ETF filing doesn’t mean it’ll be approved. No, no, no, let’s not get carried away. It took spot Bitcoin ETFs more than a decade to get the golden ticket, and with Dogecoin, we’re working at lightning speed (well, for crypto, at least). Things have been moving along much faster under the new crypto-friendly SEC regime. Who knew that in the world of finance, “fast” could mean a few months instead of a few years?
But don’t start popping champagne corks just yet. In late April, the SEC decided to delay a similar Dogecoin ETF application from Bitwise, and earlier in March, it postponed Grayscale’s application as well. It’s almost as if the SEC enjoys keeping everyone on their toes. A little suspense is good for business, right?
21Shares, ever the eager beaver, hopped into the Dogecoin ETF race on April 10th. And here we are, waiting to see whether it’s a race to the finish line or a slow jog in the park. Keep those fingers crossed, folks! 🧐🚀
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2025-05-13 22:34