- The U.S. SEC has delayed its decision on the 21Shares spot Dogecoin ETF, setting a new deadline of August 17 to further review compliance with Nasdaq listing rules.
- Despite the delay, Bloomberg analysts remain optimistic with a 90% approval probability, while DOGE’s price stays steady near $0.163 amid rising trading volume.
The U.S. Securities and Exchange Commission (SEC) has officially delayed its decision on the highly anticipated spot Dogecoin ETF proposed by 21Shares. Initially submitted for listing on Nasdaq, the ETF’s fate will now remain uncertain until at least August 17, the newly designated deadline for a final decision.
The SEC has cited the need for additional time to fully assess the ETF’s compliance with Nasdaq Rule 5711(d), which governs the listing and trading standards for commodity-based trust shares. According to the Commission, the extension is “appropriate” and necessary for a more thorough examination of the proposed rule change.
Market Reactions and Community Sentiment
The delay has sparked a mix of curiosity and concern within the Dogecoin community. A spot ETF approval is widely seen as a gateway for mainstream adoption and a potential price catalyst. As a result, many DOGE holders are watching closely for updates, hoping that regulatory approval will bring more legitimacy to the meme-based cryptocurrency.
Despite the delay, optimism remains. Bloomberg ETF analysts have placed the odds of Dogecoin ETF approval at 90%, suggesting that regulatory resistance may be weakening. Grayscale and Bitwise are also in the queue, having filed for similar spot crypto ETFs with the SEC.
Dogecoin Price Holds Steady Amid Volatility
While the news of the delay led to a minor dip in DOGE’s price—falling over 1% in the last 24 hours—the token remains range-bound near $0.165. At the time of writing, DOGE trades at $0.163, with intraday lows and highs of $0.1623 and $0.1678, respectively. Notably, trading volume has increased by 13%, a signal that trader interest in DOGE remains strong despite the regulatory delay.
With the new deadline set for August 17, all eyes will be on the SEC as it evaluates whether Dogecoin is ready to take the next step in institutional adoption. If approved, the 21Shares ETF could mark a historic milestone for the meme coin that started as a joke but has evolved into a serious digital asset.
ALSO READ:Dogecoin Price Prediction: 30% Crash Looms After $38M in Losses
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
