Crypto asset manager 21Shares’ Dogecoin exchange-traded fund has been added to the Depository Trust & Clearing Corporation’s National Securities Clearing Corporation list under the ticker TDOG.
Summary
- 21Shares’ proposed Dogecoin ETF has been added to the DTCC’s eligibility list.
- The token has been listed under the ticker TDOG.
- DOGE price was down roughly 4% in the past 24 hours.
As of Sep. 23, the updated DTCC list shows that the Swiss asset management firm’s DOGE ETF has been cleared for listing and settlement. (See below.)
Issuers typically list their products ahead of potential approval so that the operational groundwork is in place once regulators give the green light. This practice is fairly common among issuers, as the DTCC acts as the main clearing and settlement hub for equities and ETFs in the U.S.
However, it must be noted that the Dogecoin fund in question is yet to be approved by the Securities and Exchange Commission before it becomes eligible for trading. Unless the commission gives the green light, the DTCC listing remains a procedural step rather than a signal of approval.
Earlier this month, spot ETFs for Solana, Hedera, and XRP from issuers Fidelity Investments and Canary Capital were added to the DTCC’s list.
21Shares submitted its proposal to the SEC for a Dogecoin ETF back in April and seeks to offer institutions regulated exposure to the crypto asset. The regulator formally acknowledged the filing in May, but has since delayed its decision for the fund alongside other proposals from issues like Grayscale and BitWise asset management.
DOGE price failed to react, slipping about 4% in the past 24 hours, as the broader crypto market faced heavy turbulence with billions in liquidations during the previous session, led by Bitcoin’s drop to multi-week lows.
Dogecoin price had been rallying over the past month on hopes of a potential ETF approval, and reports that the first spot DOGE ETF from asset manager REX Shares and Osprey Funds was set to be approved by the SEC.
However, the rally failed to materialize, and DOGE had given up nearly all of its gains accrued over the past month. When writing, Dogecoin (DOGE) was trading at $0.2395, up just 1.3% in the past 30 days.
