21Shares has officially filed an application with Nasdaq to launch a spot Dogecoin (DOGE) exchange-traded fund (ETF) in the United States. This positions the company at the forefront of a growing race among asset managers to launch the first U.S.-listed DOGE ETF.
21Shares submitted a Form S-1 registration to the U.S. Securities and Exchange Commission (SEC) on April 9, 2025, indicating its intent to create a physically backed Dogecoin ETF. The fund would track the price performance of DOGE using the CF Dogecoin-Dollar Settlement Price (DOGEUSD_RR) as its benchmark. This means it will hold actual DOGE, the meme coin, in custody with Coinbase Custody Trust Company and will not use leverage or derivatives.
The application is currently under review, and a subsequent submission of a Form 19b-4 by Nasdaq will formally initiate the SEC’s approval timeline. Additionally, the ticker symbol, management fee, and other key details have not been disclosed yet.
21Shares Partnership with $DOGE and the ETF Competitive Landscape
21Shares is in partnership with the House of Doge, the corporate arm of the Dogecoin Foundation, to provide licensing, marketing, and strategic support for the fund. The announcement follows the successful launch of a Dogecoin ETP on Switzerland’s SIX Swiss Exchange. This ETP, also backed by 21Shares and the House of Doge, trades under the ticker DOGE with a 2.5% management fee.
The company is also not the only player filing for spot Dogecoin ETFs in recent months. For instance, Grayscale and Bitwise are also in the race to list their ETFs on NYSE Arca, while 21Shares has chosen Nasdaq as its preferred venue.
Optimistically, analysts from Bloomberg anticipate a 75% chance that the spot DOGE ETF will be approved this year. If approved, the 21Shares Dogecoin ETF would be the first U.S.-listed fund to track a meme coin. This could potentially pave the way for a new class of crypto investment products and further legitimize Dogecoin’s role in the digital asset ecosystem.
READ MORE: Bitcoin Cash (BCH) Eyes Major Breakout as Analysts Predict 300% Upside
