21Shares has amended its Dogecoin ETF application with the SEC, confirming fees and adding details. The spot Dogecoin ETF is set to launch alongside Grayscale (GDOG) and Bitwise (BWOW) this month, potentially boosting the DOGE price rally.
According to the US SEC filing, 21Shares has made a fifth amendment to its S-1, confirming a 0.50% management fee. The fee will accrue daily and be paid weekly in DOGE.
Notably, the delaying amendment remains in the filing, along with the 8(a) submission for effectiveness.
In addition, The Bank of New York Mellon will be the administrator, cash custodian, and transfer agent, while Anchorage Digital Bank and BitGo will be custodians of the trust.
The 21Shares Dogecoin ETF to trade as TDOG on Nasdaq
As reported earlier, the 21Shares Dogecoin ETF will trade under the ticker TDOG on Nasdaq, and it will track the movement of the price of DOGE through the CF Dogecoin-Dollar US Settlement Price Index.
21Shares has affirmed 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 acquire DOGE before or up to the ETF’s listing on the exchange.
The filing also reveals that Wilmington Trust NA will serve as the trustee, Foreside Global Services as the marketing agent, and Cohen & Company as the accounting firm.
Dogecoin price rebound
Following the filing of the updated Dogecoin ETF application, the price of Dogecoin (DOGE) has rebounded significantly.
As of press time, DOGE’s price had recovered by over 9.36% to $0.14995 in the past 24 hours. In addition, the trading volume had grown by 40.47% in the past 24 hours, meaning that traders are extremely interested.
The Relative Strength Index (RSI) stood at 44.83, which means Dogecoin is not in the overbought or oversold position. The trend is, however, slightly downward, and it may change to an upward trend in the case of increased purchasing power.
On the other hand, the MACD histogram shows a positive momentum, which is an indication of possible bullish movement, although the MACD line remains lower than the signal line, which suggests that there might be temporary corrections.
Looking ahead, according to analysis by CoinLore, DOGE must stay above $0.1404 for it to reach the first major resistance at $0.1529.
If the momentum is sustained, a breakout above $0.1529 could lead to a rise towards the next resistance at $0.1652 and on to the third resistance level at $0.1783.
But conversely, if the price declines, the first support to watch is $0.1404. If this level is breached, Dogecoin (DOGE) could drop further to the next support at $0.1205.