The 21Shares 2x Long Dogecoin ETF has received approval to list and trade on Nasdaq. This follows an auto-effectiveness via an 8-A filing with the U.S. Securities and Exchange Commission a few days ago.
The DOGE price is currently holding above $0.15, a level it reached after experiencing a decline of more than 10% over the past week amidst a broader cryptocurrency market downturn. The ETF is expected to join the Grayscale Dogecoin ETF, which is scheduled for launch next week.
21Shares 2x Long Dogecoin ETF Gains Approval
According to the latest U.S. SEC filing, Listed Funds Trust has filed a CERT for its 21Shares 2x Long Dogecoin ETF. This filing indicates that the Dogecoin ETF has officially received approval to be listed on the Nasdaq exchange.
Nasdaq has confirmed the approval, stating, "We further certify that the security described above has been approved by the exchange for listing and registration upon official notice of issuance."
The 21Shares 2x Long Dogecoin ETF will be listed under the ticker symbol "TXXD." The fund is designed to provide investors with 2x the daily price performance of Dogecoin. It carries a management fee of 1.89% and is structured to not seek to achieve its stated investment objective over a period exceeding a single day.
The 21Shares 2x Long Dogecoin ETF Joins Grayscale
Bloomberg analyst James Seyffart has confirmed that the Grayscale Dogecoin ETF is set to commence trading on Monday. Seyffart noted, "Lots happening next week," also mentioning that the Grayscale XRP Trust ETF (GXRP) is scheduled to go live on November 24.
The 21Shares 2x Long Dogecoin ETF is also anticipated to begin trading next week, concurrently with the Grayscale Dogecoin ETF. The launch of multiple ETFs in the upcoming days is generating considerable interest and discussion within the cryptocurrency community.
Will DOGE Price Recover?
The price of Dogecoin experienced a decline of 0.80% in the past 24 hours, extending its weekly fall to over 10%. At the time of writing, DOGE was trading at $0.157.
The 24-hour trading range was between a low of $0.1473 and a high of $0.1589. Trading volume has seen an increase of 15% over the last 24 hours, indicating a heightened level of trader attention on the market.
Currently, DOGE price is trading below both the 50-day Moving Average (MA) and the 200-day MA on the daily chart, despite the upcoming Dogecoin ETF launches. For the price to gain upward momentum, it needs to reclaim the level above the 50-MA, which is currently at $0.193.
Analyst Ali Martinez has observed that Dogecoin's supply on exchanges has recently turned positive. He highlighted that such shifts have historically preceded sharp rebounds in the asset's price.
Data from CoinGlass indicates buying activity in the derivatives market over the past few hours. The total DOGE futures open interest has climbed by almost 3% to $1.69 billion in the last 24 hours.