NYSE Arca has filed a proposed rule change to list and commerce shares of the Bitwise Asset Administration Dogecoin exchange-traded fund.
On March 3, the New York Inventory Trade subsidiary filed the 19b-4, which, if authorised, would allow the change to list the Bitwise Dogecoin (DOGE) ETF, a fund providing direct publicity to the memecoin.
Coinbase will act because the Dogecoin custodian whereas the Financial institution of New York Mellon will deal with the money custody, administration, and switch company capabilities, it said.
The ETF makes use of money creations and redemptions, which means traders can’t contribute or obtain Dogecoin instantly.
Bitwise filed an S-1 registration kind for the product with the Securities and Trade Fee in late January.
If authorised, this could be one of many first US-listed memecoin ETFs, offering regulated entry to Dogecoin for institutional and retail traders.
Screenshot from NYSE 19b-4. Supply: NYSE
Dogecoin costs didn’t react to the submitting and have tanked greater than 15% on the day, falling to $0.19 in a broader crypto market rout that has worn out all beneficial properties from Donald Trump’s US crypto reserve announcement on March 2.
On Feb. 13, the SEC acknowledged Grayscale’s filings for the Grayscale Dogecoin Belief, which means that the timeline for reviewing and deciding on the product has begun, and a possible deadline could be round mid-October.
In the meantime, the Nasdaq on March 3 filed an identical proposed rule change with the SEC to list and commerce shares of the Grayscale Hedera Belief. The fund will observe the worth of HBAR, the native token of the Hedera Community. In late February, the Nasdaq filed to list an identical Hedera product from Canary Capital.
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