Nasdaq submits proposal to list 21Shares Dogecoin ETF

21 Shares is the latest asset manager to file for a spot dogecoin exchange-traded fund as the U.S. Securities and Exchange Commission charts a new path.

The Nasdaq Stock Market LLC on Tuesday filed a 19b-4 proposal to list and trade shares of 21Shares Dogecoin ETF. When 21Shares filed its S-1 registration on April 9, the firm also said it formed an "exclusive" partnership with the House of Doge to launch funds endorsed by the Dogecoin Foundation.

A 19b-4 filing is the second part of a two-step process for proposing a crypto ETF to the SEC. Once acknowledged by the SEC, the filing will be published in the Federal Register, initiating the agency's approval process. Grayscale, Bitwise, and REX Shares previously filed for a DOGE ETF, as the Trump administration has shown a much friendlier approach to the cryptocurrency industry.

Paul Atkins was sworn in as SEC chairman on April 21 after being nominated by President Donald Trump. Atkins even took a few digs at the agency's previous approach to regulating crypto under the Biden administration and former SEC Chairman Gary Gensler.

"Innovation, unfortunately, has been stifled for the last several years due to market and regulatory uncertainty that unfortunately the SEC has fostered," Atkins said last week.

The aforementioned Dogecoin proposals are among dozens of altcoin-related ETF filings awaiting SEC review . Bloomberg analysts in February estimated that Litecoin ETFs  ( 90%) have the highest chance of approval, followed by Dogecoin funds (75%), Solana (70%), and XRP (65%) products.

The SEC approved the listing of spot Bitcoin ETFs  in January 2024 and  spot Ethereum ETFs  in July.

The price of dogecoin is down about 0.8% to $0.18, according to The Block's DOGE price data .