- An asset management firm has submitted a registration request with the SEC to introduce a Dogecoin ETF.
- The Dogecoin ETF will be under the custody of Coinbase Custody Trust.
- Following President Trump’s announcement of a 90-day tariff suspension, DOGE experienced substantial gains.
On Wednesday, Dogecoin (DOGE) surged nearly 12% after a prominent asset management firm filed an S-1 application with the Securities and Exchange Commission (SEC) for a new Dogecoin exchange-traded fund (ETF).
Asset Manager Files for Dogecoin ETF as Memecoin Sector Sees 12% Surge
The asset manager has officially registered with the SEC to propose a Dogecoin ETF, which will allow investors to gain exposure to DOGE’s price without needing to purchase the cryptocurrency directly.
Coinbase Custody Trust will be responsible for holding the tokens for the fund and will act as the ETF’s primary custodian. According to the filing, the fund is designed as a passive investment that aims only to mirror the price movements of Dogecoin.
“Registered investment products are crucial for increasing accessibility to digital assets, and the rising popularity of Dogecoin highlights its importance in the cryptocurrency landscape,” remarked the President of the asset management firm in a press release.
The firm has teamed up with House of Doge, the business side of the Dogecoin Foundation, to assist with marketing, strategic planning, and other related services for the ETF.
This filing places the firm alongside several others, including Bitwise, REX Shares, and Grayscale, which are also in the process of launching a Dogecoin ETF. All these companies are currently awaiting the SEC’s approval to commence trading Dogecoin ETFs in the United States.
The announcement resulted in DOGE climbing over 10% as the broader cryptocurrency market attempted to recover from a recent slump.
This increase coincided with a rise in the memecoin sector, which advanced by more than 12% after former President Donald Trump declared a 90-day tariff hold on 75 countries.
Even with this recent increase, DOGE is still down in both weekly and yearly metrics, reflecting declines of 5% and 17%, respectively.