I was wondering why early in the morning, Brother Kan @tktang88 sent me a message asking if the ETF for Dogecoin had been approved. I was still a bit dazed at the time, so I checked and found no information about any $DOGE spot ETF. It wasn't until the afternoon, when I carefully looked at the news, that I found the same article, which should be referring to this ETF.

First of all, this ETF is indeed related to DOGE, but it is not a spot ETF for DOGE. It will not actually buy or hold DOGE; instead, it will track the price of DOGE through derivatives such as swaps and futures.

The SEC's documents clearly state that the foundation will use a Cayman subsidiary to allocate these derivatives to achieve its goals, which is essentially a synthetic exposure. It should be listed within this week.

This article is sponsored by #Bitget ｜ @Bitget_zh

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