21Shares has provided crucial updates regarding its anticipated Dogecoin ETF, recently amending its filing with the U.S. Securities and Exchange Commission (SEC). This amendment includes the confirmation of a management fee and additional details that are pivotal for potential investors.
The newly proposed Dogecoin ETF, which will be listed on Nasdaq under the ticker symbol “TDOG“, is set to charge a management fee of 0.50%. This fee will be accrued daily and is payable in Dogecoin on a weekly basis. While the issuer has yet to clarify if any fee waivers will be implemented, further announcements are expected ahead of the ETF”s official launch.
Additionally, the filing outlines the administrative structure of the ETF. The Bank of New York Mellon has been appointed as the fund”s administrator, cash custodian, and transfer agent. To ensure the security of the trust”s assets, Anchorage Digital Bank and BitGo have been designated as custodians. These details aim to bolster investor confidence as the ETF approaches its market debut.
Tracking the CF Dogecoin-Dollar US Settlement Price Index, the ETF will utilize an initial investment of $1.5 million to acquire DOGE prior to its listing. The launch of the Dogecoin ETF is expected to coincide with similar funds from Grayscale and Bitwise, which could significantly fuel interest in Dogecoin.
As the market gears up for the ETF launch, Dogecoin has seen a notable price increase, rebounding over 11% to around $0.15 within the last 24 hours. This surge is accompanied by a 32% rise in trading volume, indicating a heightened interest among traders. Furthermore, the open interest in Dogecoin futures has also escalated on major exchanges such as Binance, OKX, and Bybit, reflecting a bullish sentiment among derivatives traders.
The confirmation of the fund”s key details, including management fees and custodians, positions the Dogecoin ETF for a promising entry into the market, potentially attracting a broader investor base.
