Key Takeaways:
- 21Shares filed with the SEC to launch a spot Dogecoin ETF, with Coinbase Custody as the proposed custodian.
- The ETF is part of 21Shares’ broader strategy to expand its spot crypto offerings, including plans for Polkadot and XRP products.
- A parallel Dogecoin ETP will launch on Switzerland’s SIX Exchange under the ticker “DOGE” with a 2.5% fee.
Crypto asset manager 21Shares has filed with the U.S. SEC to launch a spot Dogecoin ETF, aiming to track Dogecoin’s price and expand its presence in the growing market for cryptocurrency-backed financial products.
The ETF would be supported by the Dogecoin Foundation’s corporate arm, House of Doge, for marketing, while Coinbase Custody is named as the proposed custodian.
NEW: @21Shares Files for a spot Dogecoin ETF
— James Seyffart (@JSeyff) April 9, 2025
(joining Grayscale & Bitwise) pic.twitter.com/o0MAli4SMQ
However, details such as the ETF’s fee structure, ticker symbol, and listing exchange remain undisclosed.
To advance the process, 21Shares must also file a 19b-4 form to initiate SEC review.
This move places 21Shares in competition with firms like Bitwise and Grayscale in the race to bring memecoin-based ETFs to market.
Dogecoin, with a market cap of $24.2 billion, ranks as the eighth-largest cryptocurrency.
Initially created in 2013 as a joke, it has since evolved into a widely recognized digital asset.
The filing is part of 21Shares’ broader expansion strategy, which includes ETFs for Bitcoin, Ethereum, and proposed products for Polkadot and XRP.
Bloomberg analysts estimate a 75% chance of a Dogecoin ETF approval by 2025, while Polymarket sets the odds at 64%.
Separately, 21Shares plans to launch a Dogecoin ETP in Switzerland under the ticker “DOGE”.
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