Dogecoin’s First SEC-Approved ETF Launched By 21Shares – 21SHARES DOGECOIN ET (NASDAQ:TDOG)

Dogecoin (CRYPTO: DOGE) has taken one other step into the monetary mainstream with the launch of a spot ETF backed by the Dogecoin Basis. The 21shares Dogecoin ETF (NASDAQ:TDOG) started buying and selling on Thursday, providing traders publicity to the meme-born cryptocurrency by way of conventional brokerage accounts.

TDOG can also be the one spot Dogecoin ETF endorsed by the Dogecoin Basis, the nonprofit that has supported the token’s decentralized growth since 2014. That endorsement comes by way of Home of Doge, the muse’s comparatively new company arm, backed by Elon Musk’s private lawyer, Alex Spiro.

The ETF permits each retail and institutional traders to trace Dogecoin’s worth with out coping with crypto wallets, non-public keys, or exchanges. TDOG is totally backed on a 1:1 foundation by DOGE held in institutional-grade custody and carries a administration price of 0.50%.

A First For SEC-Approved Dogecoin Publicity

Whereas Dogecoin ETFs usually are not fully new, TDOG breaks essential floor. Spot DOGE ETFs from Grayscale and Bitwise launched in November, however neither obtained specific approval from the U.S. Securities and Change Fee. These merchandise went dwell by way of an automatic course of following a authorities shutdown.

Earlier this month, the SEC formally authorised the 21Shares ETF, making TDOG the primary spot Dogecoin ETF to obtain a transparent regulatory signal-off. In doing so, the company successfully concluded for the primary time that Dogecoin isn’t a safety, a dedication that would form how the asset is handled going ahead.

Home of Doge has been working to maneuver Dogecoin past its origins as an deliberately utility-free joke, pitching it as an alternative as a possible international fee rail. The ETF launch matches into that broader effort to position Dogecoin inside established monetary infrastructure.

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