Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Wall Street Could Soon Trade Dogecoin as Nasdaq Submits ETF Application

Date:

Share post:


Dogecoin, the meme-inspired cryptocurrency that began
as a joke, may soon find itself listed on Wall Street. Nasdaq has submitted a
formal request to the U.S. Securities and Exchange Commission (SEC) to list an
exchange-traded fund holding Dogecoin.

Regulatory Approval in Progress

The application follows 21Shares’ filing on April 10
to create a Dogecoin ETF. Nasdaq’s involvement adds momentum to the proposal,
but SEC approval remains a key hurdle.

The fund cannot begin trading until the regulator
signs off, and that process could take months. The SEC is currently reviewing
more than 70 crypto ETF filings, including similar requests for altcoins like
Solana and Sui, Cointelegraph reported.

This ETF surge comes after President Trump’s new
administration urged regulators to take a more crypto-friendly stance. Fund
managers like Bitwise and Grayscale have also submitted competing applications
as they race to capture demand for altcoin investment products.

You may also like: Will Dogecoin Reach $1? Price Climbs 9% as Market Sentiment Shifts

SEC is currently reviewing multiple filings related to the
potential listing of Dogecoin-based exchange-traded funds (ETFs). Last month, NYSE
Arca sought approval to list Bitwise’s Dogecoin ETF, with
Coinbase Custody managing the Dogecoin holdings and Bank of New York Mellon
overseeing the cash asset.

Nasdaq Pushes for Consistent Oversight

While backing new crypto ETFs, Nasdaq is also calling
for stricter and more uniform regulation. In an April 25 letter to the SEC, the
exchange argued that digital assets resembling securities should be held to the
same standards.

Unlike many other meme coins, Dogecoin operates on its own blockchain and uses a proof-of-work mechanism. This makes it functionally similar to Bitcoin but cheaper and faster for small transactions. Currently, Dogecoin has a market cap of nearly $26 billion and traded at $0.1773 at the time of publication.

The Road Ahead

Whether or not the SEC approves 21Shares’ Dogecoin
ETF, the growing interest in altcoin-backed funds suggests a broader shift in
how traditional finance engages with crypto.

If approved, Dogecoin could join the growing list of
digital assets accessible via regulated investment vehicles, bringing the meme
token a step closer to mainstream portfolios.

This article was written by Jared Kirui at www.financemagnates.com.



Source link

Leave a reply

Please enter your comment!
Please enter your name here

Related articles

Webus Bets $300M on XRP to Fuel Payments

Webus, a Chinese AI-driven mobility company, wants to make chauffeur payments frictionless with a $300M XRP reserve. Markets?...

10 Amazon Matching Sets for Summer Under $50

I used to consider black leggings and an oversized sweatshirt the recipe for a perfect travel...

This Italian Island Hotel Sits Inside a Stunning 1920s Post Office—and It’s Surprisingly Affordable

As we made the very short drive across Ponte Umbertino, the bridge that connects the beautiful...

Crypto May Erode Public Trust in Credit, Warns Central Banker

A top central banker warns crypto’s accelerating fusion with traditional finance could unleash market turmoil, damage trust...
Verified by ExactMetrics