Summary
- Reported that Dogecoin (DOGE) price rose 16.55% over the past 24 hours to surpass 0.3 dollars.
- Stated that expectations for a Dogecoin ETF launch in the United States are stimulating investor sentiment.
- Said that Lex Shares and Osprey Fund are pursuing a Dogecoin ETF listing based on the Investment Company Act of 1940, making approval more likely.
Dogecoin (DOGE) price has broken above the 0.3 dollars level and continues to show strength.
On the 13th, according to crypto asset media BlockBeats, Dogecoin is trading at 0.3042 dollars, up 16.55% over the past 24 hours. News that a Dogecoin exchange-traded fund (ETF) could be launched in the United States on the 18th is thought to have stimulated investor sentiment.
According to the industry, U.S. asset managers Lex Shares and Osprey Fund are reportedly scheduled to launch a 'Dogecoin ETF' on the 18th (local time). This ETF will not directly hold Dogecoin but is structured to invest indirectly in spot and derivatives through a Cayman Islands subsidiary. Experts say that because this product is seeking listing procedures based on the Investment Company Act of 1940 rather than the Securities Act of 1933, it is seen as more likely to be approved.
Currently, spot Dogecoin ETFs filed by Grayscale and Bitwise based on the Securities Act of 1933 remain under review.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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