The U.S. Securities and Exchange Commission (SEC) has announced a delay in making a decision on the Dogecoin ETF application by 21Shares, requiring additional time for evaluation.
Delay in Decision on Dogecoin ETF
The SEC has postponed its decision on the Dogecoin ETF application submitted by 21Shares for 45 days. This delay is due to the need for further assessment of whether the proposed ETF meets listing and trading requirements under Nasdaq Rule 5711(d). The application was filed on April 28 and published in the Federal Register on May 19, setting a new deadline for SEC's final decision by August 17.
Impact on the Dogecoin Community
The delay has sparked both curiosity and unease within the Dogecoin community. ETF approval is crucial for DOGE's broader acceptance and market growth. This decision emphasizes the SEC's role in the approval process for such financial instruments.
DOGE Market and Price Indicators
DOGE's price fell by more than 1% in the last 24 hours, remaining range-bound around $0.165 for a week. Currently, the price is at $0.163, with a 24-hour low and high of $0.1623 and $0.1678, respectively. However, trading volume increased by 13% over the past 24 hours, indicating growing interest among traders.
The SEC's delay in deciding on the Dogecoin ETF highlights the importance of transparency and evaluation of new financial instruments. DOGE's future may hinge on this decision.
