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Investing.com-- 21Shares said on Wednesday it had filed a registration form with the U.S. Securities and Exchange Commission to list an exchange-traded fund for popular meme cryptocurrency Dogecoin.
The ETF operator, which already has several other crypto funds, said it had filed a Form S-1 with the SEC, and that the commission will also need to approve a Form 19b-4 filing before the Doge ETF can be listed.
The Doge ETF will track the price performance of Dogecoin as measured by futures on cfbenchmarks, and will also maintain holdings of the memecoin.
The 21Shares application follows a filing by Bitwise in January for a Doge ETF.
Filings for altcoin ETFs have grown over the past year, as markets sought to recapture the brief success of spot Bitcoin ETFs launched last year. 21Shares had launched a spot Bitcoin ETF with Cathy Wood’s Ark.
But a Doge ETF would represent a first for memecoin ETFs. The cryptocurrency- which was launched in 2013 as a joke- is widely considered the first memecoin.
The coin rapidly grew in market popularity, also taking support from being referenced by Tesla (NASDAQ:TSLA) CEO Elon Musk, and hit a peak capitalization of over $85 billion in 2021.
Doge was also referenced by the Trump administration with the Department of Government Efficiency.
Dogecoin was trading up 13.4% at $0.161195 by 19:41 ET (23:41 GMT).