21Shares Launches First Spot Dogecoin ETF TDOG on Nasdaq with SEC Approval
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Coinmarketcap
- Market Debut: The Dogecoin ETF issued by 21Shares began trading on Nasdaq today, becoming the first spot ETF to receive backing from the Dogecoin Foundation, marking a significant recognition of Dogecoin in traditional financial markets.
- Regulatory Approval: This ETF is also the first spot Dogecoin ETF to receive explicit approval from the U.S. Securities and Exchange Commission (SEC), officially classifying Dogecoin as a 'non-security' for the first time, laying a foundation for future compliance.
- Investor Appeal: 21Shares President Duncan Moir noted that the product particularly appeals to young, affluent investors interested in crypto but investing through traditional brokerage firms, thereby broadening Dogecoin's investment avenues.
- Market Potential: Moir argues that with the success of Bitcoin and Ethereum ETFs on Wall Street, Dogecoin, with its strong online community and high market capitalization, could be the next hot investment product.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
