21Shares files for spot Dogecoin ETF with SEC

Crypto asset manager 21Shares has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin (CRYPTO:DOGE) exchange-traded fund (ETF).

This move follows similar applications by competitors such as Bitwise and Grayscale, reflecting growing interest in cryptocurrency ETFs. 

According to the April 9 Form S-1 filing, the proposed ETF aims to track the price of Dogecoin (DOGE), a cryptocurrency initially created as a parody but now valued at $24.2 billion, making it the eighth-largest cryptocurrency by market capitalisation.

Coinbase Custody has been named as the custodian for the fund.

However, details such as listing exchange, ticker symbol, and fees remain unspecified.

The filing also mentions that House of Doge, the corporate arm of the Dogecoin Foundation, will assist with marketing efforts for the ETF.

Additionally, 21Shares must submit a 19b-4 filing to initiate the SEC’s approval process, which could take several months.

This proposal is part of 21Shares' broader strategy to expand its crypto ETF offerings.

The company already manages spot Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) ETFs and has recently filed for ETFs linked to Polkadot (CRYPTO:DOT) and XRP (CRYPTO:XRP).

In Switzerland, 21Shares has partnered with House of Doge to launch a fully backed Dogecoin exchange-traded product on the SIX Swiss Exchange under the ticker “DOGE,” with a 2.5% fee.

Market analysts view this surge in crypto ETF filings as a testing phase under new SEC leadership.

Bloomberg ETF analyst James Seyffart described it as a “spaghetti cannon approach,” where issuers file multiple applications to see which products gain approval.

Seyffart previously estimated a 75% chance of SEC approval for a spot Dogecoin ETF in 2025.

At the time of reporting, the Dogecoin (DOGE) price was $0.1557.