2W
...
NYSE Arca has made a significant move by filing a 19b-4 form with the US Securities and Exchange Commission to launch a Dogecoin exchange-traded fund. This groundbreaking initiative handled by Bitwise aims to bring Dogecoin to the mainstream financial markets. Coinbase Custody will safeguard the holdings while The Bank of New York Mellon manages the cash assets and administrative tasks. This filing follows Bitwise’s S-1 registration and marks a pivotal moment in integrating cryptocurrencies with traditional financial structures.
The proposed Dogecoin ETF intends to mirror the real-time value of Dogecoin based on the CF Dogecoin-Dollar Settlement Price. By closely aligning the ETF’s value with Dogecoin’s market price the structure ensures transparency and reliability in tracking its performance. This strategic development signals a bright future for cryptocurrency in conventional investment portfolios positioning Dogecoin at the heart of financial innovation.
“Pursuant to the provisions of Section 19(b)(1) of the Securities Exchange Act of 1934, as amended (the “Act” or “’34 Act”) and Rule 19b-4 thereunder, NYSE Arca, Inc.(“NYSE Arca” or “Exchange”), proposes to list and trade shares of the Bitwise Dogecoin ETF (the “Trust”) under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares),” the filing read.
