Dogecoin Edges Closer to a US-Listed Exchange-Traded Fund Debut
As the world of cryptocurrency continues to evolve, Dogecoin is on the brink of making a significant leap into the mainstream financial markets. With new developments in regulatory filings and updates from key fund issuers, the introduction of a Spot Dogecoin Exchange-Traded Fund (ETF) in the US appears imminent. The timeline for this groundbreaking launch is becoming increasingly defined, with analysts predicting that the debut of the first-ever Spot Dogecoin ETF could be just days away. All indicators suggest a potential launch window as early as Monday, bringing this eagerly awaited financial product to market much sooner than many had anticipated.
Grayscale Prepares for a Swift Dogecoin ETF Launch
One of the most telling signs of the impending Dogecoin ETF launch came from Grayscale, which recently updated its Dogecoin ETF filing. This update triggered a 20-day countdown under the Securities and Exchange Commission’s (SEC) accelerated listing rules. These newly implemented guidelines allow specific cryptocurrency ETFs to proceed without the protracted approval process that earlier financial products encountered.
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If the SEC does not intervene with any objections, the conclusion of this 20-day period will mark the official launch date of the proposed ETF. Based on the timing of Grayscale’s amendment, the debut of the first Spot Dogecoin ETF could occur as early as Monday, November 24. Eric Balchunas, a senior ETF analyst at Bloomberg, has provided the most specific timeline yet, stating, “Based on the 20-day clock, I believe Grayscale will be out with the first Doge ETF in a week, 11/24.” His insights align with the expectation that the inaugural Dogecoin ETF could be operational before the end of November.
SEC’s New Framework Proves Effective with Solana ETF
The growing optimism surrounding Dogecoin’s ETF launch is bolstered by the recent success of Solana’s ETF. VanEck successfully launched its Solana ETF this week, complete with staking rewards and temporarily waived fees to entice initial investments. Fidelity has also entered the fray with its Solana ETF, FSOL, which saw $2.07 million in inflows on its first trading day.
This Solana ETF launch occurred under the same SEC listing framework currently guiding Dogecoin’s filing. Its seamless debut has confirmed that the new process functions as intended, enabling issuers to bring crypto ETFs to market much more swiftly than in previous cycles. This sets a substantial precedent for Dogecoin, which is poised to benefit from the same efficient pathway.
While Grayscale is expected to be the first to launch a DOGE ETF, it might not hold the monopoly for long. Bitwise has also submitted an amendment to its own DOGE fund earlier in November, activating a similar 20-day timeline. If timelines remain consistent, Bitwise’s Spot Dogecoin ETF could list the following week.
At the time of writing, Dogecoin is trading at $0.1586, reflecting a 2% increase over the past 24 hours.
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