Investment firm 21Shares has taken a significant step in the cryptocurrency world by submitting a proposal to the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) focused on Dogecoin. This follows similar applications from companies like Bitwise and Grayscale, all aiming to create investment vehicles centered around Dogecoin. While details such as the ETF’s listing exchange, ticker symbol, and service fees remain unclear, they will require approval from the SEC. 21Shares has also chosen Coinbase Custody to manage the fund’s custody, while the “Form 19b-4” for SEC sanction indicates the process is still in early stages. 21Shares isn’t limited to the U.S. market; their firm partnered with the House of Doge in Europe, launching a fully supported Dogecoin ETF on Switzerland’s SIX exchange with ticker symbol “DOGE.” This product carries an annual management fee of 2.5%. Duncan Moir, President of 21Shares, believes that Dogecoin transcends its role as a cryptocurrency and is evolving into a cultural and economic phenomenon. He remains optimistic about the future of Dogecoin and aims to provide investors with a regulated avenue for participation. 21Shares’ proposed ETF could significantly attract new investors, boost Dogecoin’s credibility within financial markets, and potentially pave the way for clearer regulations in the crypto industry.