House of Doge Launches Canine Crypto Fund

21Shares Applies to Launch Dogecoin ETF Backed by House of Doge

Swiss asset manager 21Shares has submitted an application to the Securities and Exchange Commission (SEC) to launch a Dogecoin ETF, a move that could bring the popular cryptocurrency to the doorstep of institutional investors and individual traders.

The ETF, which would be backed by the House of Doge, a community-driven organization that aims to promote the adoption and growth of Dogecoin, would track the performance of the cryptocurrency. The product would be the first Dogecoin ETF to be listed in the United States.

21Shares, which has already launched several cryptocurrency ETFs, including ones tracking Bitcoin, Ethereum, and Solana, said that the new ETF would be designed to provide investors with a convenient and cost-effective way to gain exposure to Dogecoin's price movements.

"Dogecoin has a strong and dedicated community, and we believe that our ETF will be an attractive option for investors looking to gain exposure to this exciting and rapidly growing cryptocurrency," said 21Shares CEO, Jan Brzezek.

The House of Doge, which has been instrumental in promoting Dogecoin's adoption and growth, has also welcomed the news of the proposed ETF. "We are thrilled to see 21Shares take the next step in bringing Dogecoin to the mainstream," said a spokesperson for the House of Doge. "This ETF will be a game-changer for Dogecoin and will help to bring more visibility and liquidity to the market."

The application to launch the Dogecoin ETF follows a surge in interest in the cryptocurrency, which was created in 2013 as a joke but has since gained a significant following. Dogecoin's market capitalization has grown to over $5 billion, and its community-driven efforts have led to a number of high-profile partnerships and collaborations.

The proposed ETF would be listed on the CBOE BZX Exchange, which has already approved several cryptocurrency ETFs. The application is subject to review and approval by the SEC, which has been cautious in its approach to approving ETFs tracking cryptocurrencies.

If approved, the Dogecoin ETF would be the latest addition to the growing list of cryptocurrency ETFs available to US investors. The news is likely to be welcomed by Dogecoin enthusiasts and investors looking to gain exposure to the cryptocurrency.