Dogecoin skyrockets on shocking news
After 8% climbing in the last 24 hours, Dogecoin was experiencing a gathering madness and traded at $ 0.2371 with a market value of over $ 35 billion. Breast coin, speculation, the first as the first Dogecoin ETF grew up as it grew up and the idea of rise.
Dogecoin may be given the approval of funds (ETF) traded on the first stock exchange in the United States at the beginning of this week.
If approved, this will be a moment of turning for fans such as MEM crypto and billionaire Elon Musk, who historically clues from the internet culture.
Bloomberg ETF analyst Eric Balchunas Specified last week Together with the Osprey funds of Rex shares, under the 1940 Investment Company Law, it presented an effective prospectus with the securities and stock exchange commission (SEC) for a Dogecoin ETF.
“Apparently, Rex will start a dog ETF next week via 40 La $ SSK Action,” Balchunas, released this year’s company Solana Stinging ETF refers to X and wrote on X.
Previously, Bitwise had also applied to a Dogecoin ETF, but it was not approved as of September 8th. SEC delayed his decision. Bitwise’s Dogecoin EtfIt is expanding the review on June 12th.
The term ETF refers to an investment product that allows traders to be exposed to a relative to a being without taking advantage of the real being.
A Dogecoin ETF will provide the ability to trade in traditional US securities stock exchanges and provide both a simple access point and corporate legitimacy.
While most crypto ETF requires regulators to navigate a more complex S-1 process (for funds) or 19b-4 process (for ETFs), Rex uses the so-called “40 ACT” path. ETF Store President Nate Geraci defined “Wild” a week.
The “40 ACT” method involves skipping the slow traditional confirmation process and has successfully initiated the solened -related funds.
Rex accepted Dogecoin’s important volatility and “important risks” File. Dogge is trading today at about $ 0.2393, which increases by about 10% in the last 24 hours.
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ETF will probably be traded under the ticket and will be operated by Fund Service LLC. If approved, there will be ETFs connected to another niche crypto approved after approved Bitcoin and Ethereum Spot ETFs in 2024.
