Swiss-based 21shares, a prominent $7 billion crypto exchange-traded fund (ETF) management firm, has made a significant move by filing for a Dogecoin ETF with the U.S. Securities and Exchange Commission (SEC). This decision comes in the wake of similar moves by competitors such as Grayscale and Bitwise, indicating a growing interest in offering investment products tied to digital assets like Dogecoin.

The Dogecoin Foundation, a key player in the Dogecoin ecosystem, has lent its endorsement to 21shares for the creation of this ETF. This backing adds further credibility to the endeavor and highlights the foundation's confidence in 21shares' ability to manage a Dogecoin-specific investment vehicle effectively.

The rise of ETF

Source: https://news.bitcoin.com/digital-asset-manager-21shares-files-for-dogecoin-etf/