21SHARES FILES FOR SPOT DOGECOIN ETF IN THE US

Last updated: June 19, 2025, 20:05 | Written by: Linda Xie

The world of cryptocurrency is constantly evolving, and the latest development has sent ripples through the digital asset community: 21Shares, a prominent crypto asset manager, has officially filed with the U.S. In a US SEC filing submitted on Ap, 21Shares stated that, if approved, the product will track Dogecoin s price. The House of DOGE will handle marketing functions, including licensing and strategy. While pursuing an ETF in the US, 21Shares also launched a Dogecoin Exchange-Traded Product (ETP) on the SIX Swiss Exchange on Ap.Securities and Exchange Commission (SEC) for a spot Dogecoin ETF.This move positions 21Shares alongside competitors like Bitwise and Grayscale in the race to offer investors direct exposure to the meme-inspired cryptocurrency, Dogecoin (DOGE), through a regulated and accessible investment vehicle.This isn't just about Dogecoin; it's about the growing acceptance of crypto assets within mainstream finance. 21Shares filed with the SEC to launch the first-ever Spot Dogecoin ETF in the US. The ETF aims to track the real-time price of Dogecoin (DOGE) with physical backing. On the same day, 21Shares launched a similar Dogecoin product on Switzerland s SIX Exchange. Digital asset manager 21Shares hasThe potential approval of a spot Dogecoin ETF could mark a significant milestone, potentially opening the floodgates for wider adoption and institutional investment.But what does this filing mean for investors, the future of Dogecoin, and the broader crypto market?Let's delve into the details of 21Shares' filing, the implications for Dogecoin's price, and the potential hurdles that lie ahead in the SEC's approval process.

The Race for a Spot Dogecoin ETF Heats Up

The journey to a spot Dogecoin ETF in the United States has been gaining momentum, with several key players vying for the coveted approval from the SEC. 21Shares' entry into this race signifies a growing belief that Dogecoin, despite its origins as a meme, has staying power and warrants inclusion in regulated investment products.

21Shares Joins the Fray

21Shares, a well-established name in the crypto asset management space, has formally submitted its S-1 form to the SEC for its proposed Dogecoin ETF. 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.This filing officially marks them as the third contender, following in the footsteps of Grayscale and Bitwise, who have also thrown their hats into the ring.While Grayscale and Bitwise have chosen NYSE Arca as their preferred exchange, 21Shares has opted for Nasdaq, showcasing different strategies in their pursuit of listing.

Alongside the U.S. filing, 21Shares also launched a Dogecoin Exchange-Traded Product (ETP) on the SIX Swiss Exchange, demonstrating their commitment to making Dogecoin accessible to investors globally. Crypto asset manager 21Shares has made an initial filing with the US Securities and Exchange Commission for a spot Dogecoin ETF, following rivals Bitwise and Grayscale. Digital asset managerThis ETP, trading under the ticker DOGE, features a 2.5% management fee and is backed by 21Shares and the House of Doge.

What is a Spot Dogecoin ETF and How Does it Work?

A spot Dogecoin ETF, at its core, is an exchange-traded fund that directly holds Dogecoin.This means that the ETF's price will closely track the real-time price of Dogecoin in the market. ETF Filing Puts DOGE One Step Closer to Wall Street. On, 21Shares US LLC submitted an amended Form S-1 to the U.S. Securities and Exchange Commission (SEC) for the 21Shares DogecoinThe appeal of a spot ETF lies in its ability to provide investors with exposure to Dogecoin without the need to directly purchase, store, and manage the cryptocurrency themselves. 21Shares Files Spot Dogecoin ETF on Nasdaq, Source: X The ETF will follow Dogecoin prices utilizing the CF Dogecoin-Dollar Settlement Price (DOGEUSD_RR) as its official indicator. If approved, it will hold real Dogecoin in custody through Coinbase Custody Trust Company, providing investors exposure to DOGE in a secure and regulated format.This is particularly attractive to institutional investors and those who are new to the crypto space and prefer the security and regulatory oversight of a traditional investment vehicle.

Here's a breakdown of how a spot Dogecoin ETF typically works:

Direct Holding of Dogecoin: The ETF physically holds Dogecoin.
Price Tracking: The ETF's price mirrors the actual price of Dogecoin in the market.
Simplified Investment: Investors can buy and sell shares of the ETF on a stock exchange, just like any other stock or ETF.
Custody: A secure custodian, in this case, Coinbase Custody Trust Company, holds the Dogecoin on behalf of the ETF.

The 21Shares filing specifies that the ETF will track Dogecoin prices using the CF Dogecoin-Dollar Settlement Price (DOGEUSD_RR) as its official indicator.This ensures transparency and accuracy in the ETF's price tracking.

The Role of the House of DOGE

Interestingly, the House of DOGE will play a key role in the marketing and promotion of the 21Shares Dogecoin ETF.The House of DOGE will be responsible for licensing, strategy, and marketing functions.The involvement of the House of DOGE adds a unique element to the ETF, leveraging the power of the Dogecoin community and its meme-driven origins to attract investors.

The SEC's Stance and Potential Hurdles

The approval of a spot Dogecoin ETF by the SEC is not a guaranteed outcome. 21Shares Files For Dogecoin ETF With US SEC. 21Shares has filed the S-1 form for its Dogecoin ETF with the US SEC. The asset manager becomes the third to file for a DOGE ETF, joining Grayscale and Bitwise. The next step is for the asset manager, through an exchange, to file the 19b-4 form for this fund, which will officially kickstart theThe SEC has historically been cautious about approving cryptocurrency-based ETFs, citing concerns about market manipulation, volatility, and investor protection.However, the recent approval of spot Bitcoin ETFs has created a precedent that could pave the way for similar products based on other cryptocurrencies.

The SEC's decision will likely hinge on several factors, including:

Market Surveillance: The SEC will want to ensure that there are adequate surveillance mechanisms in place to prevent market manipulation and fraud.
Custody Arrangements: The security and reliability of the custody arrangements for the Dogecoin held by the ETF will be a critical consideration.
Investor Protection: The SEC's primary mandate is to protect investors, and it will assess whether the ETF provides sufficient disclosures and safeguards.

The next step in the approval process involves the exchange (Nasdaq, in 21Shares' case) filing the 19b-4 form, which officially triggers the SEC's review.

Why a Spot Dogecoin ETF Matters

The potential approval of a spot Dogecoin ETF carries significant implications for Dogecoin, the crypto market, and investors alike.

Increased Accessibility and Adoption

A Dogecoin ETF would make Dogecoin accessible to a broader range of investors, including those who are hesitant to directly purchase and manage cryptocurrency.This increased accessibility could lead to greater adoption and liquidity for Dogecoin.

Legitimization of Dogecoin

The approval of a spot ETF would signal a significant step in the legitimization of Dogecoin as an asset class.It would demonstrate that regulators are willing to recognize Dogecoin as a viable investment option, despite its meme-inspired origins.

Potential Price Impact

The increased demand resulting from the ETF could potentially drive up the price of Dogecoin.However, it's important to note that the price of Dogecoin is also influenced by a variety of other factors, including market sentiment, social media trends, and overall crypto market conditions.

Competition and Innovation

The race to launch a spot Dogecoin ETF is fostering competition and innovation in the crypto asset management space.This competition could lead to lower fees, better services, and more sophisticated investment products for investors.

Investing in Dogecoin: Risks and Considerations

While a Dogecoin ETF offers a convenient way to gain exposure to Dogecoin, it's crucial to understand the risks involved before investing.Cryptocurrency investments are inherently volatile and speculative, and Dogecoin is no exception.

Here are some key considerations:

Volatility: Dogecoin's price is known for its extreme volatility, and investors should be prepared for significant price swings.
Market Sentiment: Dogecoin's price is heavily influenced by social media trends and market sentiment, making it susceptible to sudden and unpredictable changes.
Regulation: The regulatory landscape for cryptocurrencies is still evolving, and changes in regulations could impact the value of Dogecoin.
Security Risks: While the ETF itself is designed to be secure, there are still inherent risks associated with cryptocurrency custody and storage.

Before investing in a Dogecoin ETF, it's essential to conduct thorough research, understand your risk tolerance, and consult with a qualified financial advisor.

The Future of Dogecoin ETFs

The filing by 21Shares for a spot Dogecoin ETF is a significant development in the ongoing evolution of the cryptocurrency market.Whether or not the SEC approves this filing, it highlights the growing demand for regulated and accessible investment products based on cryptocurrencies.

The future of Dogecoin ETFs will likely depend on several factors, including:

SEC Approval: The SEC's decision on the 21Shares filing will set a precedent for future Dogecoin ETF applications.
Market Demand: The level of investor interest in Dogecoin ETFs will influence the number of firms that seek to launch similar products.
Regulatory Developments: Changes in cryptocurrency regulations could impact the viability and attractiveness of Dogecoin ETFs.

What Happens Next?The Timeline for Potential Approval

After the S-1 filing, 21Shares, through Nasdaq, needs to file the 19b-4 form with the SEC.This action is what officially starts the SEC's review process for the proposed ETF.The SEC will then analyze the filing, request additional information if needed, and ultimately decide whether to approve or reject the Dogecoin ETF.This process can take several months, and there is no guarantee of approval.

Key Milestones to Watch

19b-4 Filing: Nasdaq files the 19b-4 form with the SEC.
SEC Review Period: The SEC begins its review of the 19b-4 filing.
Public Comment Period: The SEC may open a public comment period, allowing investors and other stakeholders to provide feedback on the proposed ETF.
SEC Decision: The SEC issues its decision on the 19b-4 filing, either approving or rejecting the Dogecoin ETF.

Common Questions About Spot Dogecoin ETFs

What are the benefits of investing in a spot Dogecoin ETF?

Investing in a spot Dogecoin ETF offers several potential benefits, including:

Simplified Access: Easier access to Dogecoin for investors who prefer traditional investment vehicles.
Regulatory Oversight: Added security and oversight compared to directly buying and holding Dogecoin.
Diversification: Potential for diversification within a portfolio.

What are the risks of investing in a spot Dogecoin ETF?

Investing in a spot Dogecoin ETF also carries risks, including:

Volatility: Exposure to Dogecoin's inherent price volatility.
Market Sentiment: Dependence on social media trends and market sentiment.
Regulatory Uncertainty: Potential impact from evolving cryptocurrency regulations.

Is a spot Dogecoin ETF a good investment for everyone?

No, a spot Dogecoin ETF is not suitable for all investors.It's important to consider your individual risk tolerance, investment goals, and financial situation before investing in any cryptocurrency-related product.

Where can I find more information about the 21Shares Dogecoin ETF?

You can find more information about the 21Shares Dogecoin ETF on the SEC's website, as well as on 21Shares' official website.

Conclusion: The Future of Dogecoin and ETFs

21Shares' filing for a spot Dogecoin ETF in the US marks a pivotal moment for both Dogecoin and the broader crypto market.While the SEC's decision remains uncertain, the move underscores the growing demand for regulated and accessible cryptocurrency investment products.The potential approval of a spot Dogecoin ETF could legitimize Dogecoin as an asset class, increase its accessibility to a wider range of investors, and potentially drive up its price.However, it's crucial for investors to understand the risks involved and to conduct thorough research before investing in any cryptocurrency-related product.

Key takeaways:

21Shares has filed for a spot Dogecoin ETF with the SEC.
The ETF aims to track the real-time price of Dogecoin and will hold actual Dogecoin.
The SEC's approval is not guaranteed and will depend on factors such as market surveillance and investor protection.
A Dogecoin ETF could increase accessibility and adoption of Dogecoin but also comes with inherent risks.

Whether you're a seasoned crypto investor or just starting to explore the world of digital assets, the 21Shares filing highlights the dynamic and evolving nature of the cryptocurrency market.Stay informed, do your research, and invest responsibly.