Rally Storm in Dogecoin: 21Shares Ignites the Market with ETF Update

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21Shares filed its fifth S-1 filing with the U.S. Securities and Exchange Commission (SEC). dogecoin $0.135787 He announced the management fee and new details about his ETF. of the company TDOG The expectation that the spot Dogecoin ETF, which is expected to be traded on Nasdaq with the code, will be launched in the same period as the products issued by Grayscale and Bitwise, brought an increase of over 11 percent in the price of DOGE coin.

Fee and Custody Details on 21Shares Dogecoin ETF

Official submission to SEC to file according to 21Sharesset the management fee for the Dogecoin ETF at 0.50 percent. It was stated that the fee will accumulate daily and be paid weekly in Dogecoin. No fee waiver has been announced yet, but the company is expected to clarify this issue before the launch. The application preserves the “delaying amendment” clause to enter into force under Article 8(a).

According to the information in the file Bank of New York Mellon It will be the administrator, cash custodian and transfer agent of the ETF. Anchorage Digital Bank And BitGo It is also among other depository institutions. Wilmington Trust N.A. trust institution, Foreside Global Services marketing agency and Cohen & Company will serve as the audit company. The management of the ETF will be carried out by 21Shares US LLC, and it is stated that the ETF will enter the market by purchasing DOGE coin with an initial capital of $ 1.5 million.

Strong Rise in the Price of DOGE Coin

Following the ETF announcement, the price of DOGE coin rose 11.4 percent in the last 24 hours to $0.15. Daily trading volume increased by 32 percent, indicating renewed investor interest. Although the price technically remained below the 50 and 200-day moving averages, its rise above the trend line supported the bullish expectation. Relative Strength Index (RSI) climbed to 45.19, leaving room for upward movement.

According to CoinGlass data, open positions in Dogecoin futures increased by 8 percent in the last 24 hours, reaching $1.5 billion. Binance, OKX And Bybit The increase in open interest rates in the stock exchanges by 1.5 percent, 1.64 percent and 1.26 percent, respectively, paints an optimistic picture on the derivative side of the market. Moreover, TDOG announced the acquisition of Grayscale this month. GDOG and Bitwise BWOW It is considered that starting to be traded together with ETFs may increase institutional interest in DOGE.