On Tuesday, Nasdaq filed a 19b-4 proposal to list shares of the 21Shares Dogecoin ETF, marking a significant step in the ETF approval process. 21Shares also announced an exclusive partnership with the House of Doge on April 9 to launch Dogecoin Foundation-endorsed funds. The filing initiates the SEC's review process, following similar proposals from Grayscale, Bitwise, and REX Shares.
The move comes as Paul Atkins, nominated by President Trump, was sworn in as SEC chairman on April 21. Atkins criticized the previous SEC's approach to crypto regulation, stating that innovation has been stifled. Bloomberg analysts estimated in February that Litecoin ETFs have a 90% chance of approval, followed by Dogecoin funds at 75%.
The SEC approved spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July. As of today, Dogecoin's price is down approximately 0.8% to $0.18, according to The Block's DOGE price data.