The U.S. Securities and Exchange Commission (SEC) has acknowledged a Dogecoin (DOGE) exchange-traded fund (ETF) filing by 21Shares
This comes after the SEC also moved to start reviewing a similar Dogecoin ETF filing from Grayscale in early February
The acknowledgment means that the regulatory agency has added the application to the public record and kicked off a review process. It takes the SEC up to 240 days to decide whether it should approve or reject a certain ETF
Of course, the fact that the SEC has merely acknowledged an ETF filing does not necessarily mean that it will eventually be greenlit
It took spot Bitcoin ETFs more than a decade to finally obtain approval from the SEC. With altcoins, however, things are moving at a much faster pace with the new crypto-friendly SEC administration.
In late April, the SEC delayed pot Dogecoin ETF applications from Bitwise. In early March, it also postponed its decision on Grayscale’s filing.
21Shares originally joined the Dogecoin ETF race on Apr. 10.
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