21Shares amended its Dogecoin ETF application with the U.S. Securities and Exchange Commission (SEC) to confirm fees and provide additional details. The spot Dogecoin ETF is expected to join Grayscale (GDOG) and Bitwise Dogecoin ETFs (BWOW) this month, driving further DOGE price rally.
21Shares Updates Dogecoin ETF with the US SEC
According to a US SEC filing, 21Shares made a fifth amendment to its S-1 to confirm a management fee of 0.50%. The fee will accrue daily and will be payable in Dogecoin weekly in arrears.
However, the issuer has not disclosed any fee waiver and would likely reveal it before the official launch. The delaying amendment is also retained in the filing, along with becoming effective with an 8(a) submission.
The issuer reveals The Bank of New York Mellon as administrator, cash custodian and transfer agent. Also, Anchorage Digital Bank and BitGo will serve as other custodians of the trust.
As CoinGape earlier reported, the 21Shares Dogecoin ETF will list under the ticker “TDOG” on Nasdaq. The exchange-traded fund will track the DOGE price performance as measured by the CF Dogecoin-Dollar US Settlement Price Index.
The issuer earlier revealed Coinbase Custody Trust Company as the custodian and 21Shares US LLC as the seed capital investor. Notably, the trust will use $1.5 million to purchase DOGE at or prior to the listing of the ETF on the exchange.
Other details disclosed in the filings include Wilmington Trust NA as the trustee, Foreside Global Services as the marketing agent, and Cohen & Company as the accounting firm.
DOGE Price Jumps Over 11% Amid Market Optimism
At press time, DOGE price rebounded more than 11% to $0.15 in the past 24 hours. The 24-hour low and high are $0.1347 and $0.1519, respectively. Furthermore, trading volume has increased by 32% in the last 24 hours, indicating massive interest among traders.
In the daily timeframe, the price is still below the 50-MA and 200-SMA, but a breakout above the trendline has provided some support. Whereas, the relative strength index (RSI) rises to 45.19, signaling a potential upside move amid Dogecoin ETF buzz.
CoinGlass data showed massive buying in the derivatives market. The total Dogecoin futures open interest jumped more than 8% to $1.50 billion in the last 24 hours. At the time of writing, the 4-hour futures OI on Binance, OKX, and Bybit climbed more than 1.5%, 1.64% and 1.26%, respectively. This signals bullish sentiment among derivatives traders.
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