21Shares, a leading digital asset manager, has filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin ETF. The proposed fund is to follow the price of Dogecoin (DOGE) which is trading at $0.1548 with a market capitalization of $24.2 billion and ranks as the eighth largest cryptocurrency.
According to the April 9 filing, Coinbase Custody would act as the custodian, but 21Shares hasn’t disclosed the ETF’s fee, ticker, or listing exchange. The Dogecoin Foundation’s corporate arm, House of Doge, will assist with marketing the fund.
This move follows similar filings by rivals Bitwise and Grayscale. It’s part of 21Shares’ broader effort to expand its crypto ETF offerings, which already include spot Bitcoin and Ether funds. Earlier, the firm also filed for spot Polkadot and XRP ETFs.
Bloomberg ETF analysts James Seyffart and Eric Balchunas believe there’s a 75% chance the SEC will approve a spot Dogecoin ETF in 2025. Meanwhile, betting platform Polymarket places the odds at 64%.
In a separate announcement, 21Shares revealed a partnership with House of Doge to launch a fully backed Dogecoin ETP on Switzerland’s SIX Swiss Exchange. The product, trading under the ticker “DOGE,” will charge a 2.5% annual fee.
21Shares president Duncan Moir said, “Dogecoin has become more than a cryptocurrency. It’s a cultural and financial movement, and this ETF offers investors a regulated way to join it.”
The race for crypto ETFs continues to heat up, with issuers eager to see what gains approval next.
Also Read: Memecoin Mania: DOGE, SHB, and PEPE Jump 15%, What’s Next?
