The “revival” of the sleeping address may be due to the fact that the large owners of DOGE began to prepare for the launch of the first exchange fund (ETF), tied to Dogecoin. In particular, Rex Shares has announced the readiness to launch the REX-OSPREY DOGECOin exchange fund, which will bargain under the DOJE ticer.
The fund will be structured in accordance with the Law on Investment Companies of 1940. Instead of the direct ownership of DOGE, the fund will receive investments mainly through derivatives: swaps and futures. In August, GrayScale also applied for registration of a spotes ETF, tied to DOGE cryptocurrency.
Meanwhile, the US Securities and Exchange Commission (SEC) studies the introduction of new listing standards that could simplify the process of approval of applications for the launch of the ETF, tied to one cryptoactive. If these rules are adopted, they will “lay the way” for exchange funds on other altcoins, including SOL and XRP.
Over the past month, Dogecoin cryptocurrency has increased by more than 8%, to $ 0.23. The DOGE market capitalization has reached $ 35 billion. The growth of the crypto act can be associated with Cleancore Solutions from Nebraski, which is developing cleaning systems using ozone. The company announced the placement of shares in the amount of $ 175 million, the money from the sale of which should go to buy DOGE.
According to a survey conducted by Decrypt, many analysts explained the growth of the Dogecoin course with an increased appetite of investors to risk, as well as the adoption of a law on the regulation of stablecoins in the United States.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
