The spot-based Dogecoin exchange-traded fund (ETF) proposal filed by 21Shares has been listed on the Depository Trust & Clearing Corporation (DTCC).
This comes after REX-Shares successfully launched the first-ever DOGE ETF in the US in collaboration with Osprey Funds earlier this September.
What does this listing mean?
The DTCC is a central clearinghouse that is responsible for the settlement of securities transactions in the U.S.
The listing is an important preparatory step since it ensures that the product can be seamlessly integrated into the financial infrastructure.
The shares that are bought and sold will be tracked via DTCC's system.
Moreover, the ticker of the ETF can now be pre-registered by brokers.
No SEC approval yet
That said, the DTCC listing is a purely technical step, which does not mean that the SEC has already approved the product.
As reported by U.Today, Canary Capital Group's XRP ETF was similarly listed by the clearinghouse earlier this month, which led to some confusion within the community.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team