The United States Securities and Exchange Commission (SEC) has officially acknowledged the spot Dogecoin ETF filing from 21Shares, an update that has set the DOGE price on a bullish ride. This acknowledgement officially sets the 21Shares DOGE ETF product on the commission’s timeline for approval. Notably, the commission can take up to 240 days to approve or reject the ETF proposal.

21Shares Dogecoin ETF and DOGE Price Reaction

With acknowledgement, the 21Shares product now joins Grayscale Investments, which are also awaiting feedback from the US SEC. 21Shares filed for the DOGE ETF on April 9. Per the firm’s demand, it hopes to launch the product to provide exposure to the Dogecoin price with institutional investors as its target.

Following the US SEC acknowledgment, the DOGE price jumped 6.29% in the past 24 hours to $0.2404. This rally comes despite the volatility recorded earlier in the trading hours. However, the coin has pared off all short-term losses, with its 7-day price growth coming in at 42.19%.

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