Dogecoin Goes Mainstream: 21Shares Files for Spot DOGE ETF
Spot Dogecoin ETF – In a move that further expands the reach of meme cryptocurrencies into mainstream finance, digital asset manager 21Shares has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin ETF. The filing, submitted on April 9 via a Form S-1 registration statement, would mark one of the first attempts to bring direct DOGE exposure to U.S. equity markets.
21Shares Dogecoin ETF: Details and Partners
The proposed 21Shares Dogecoin ETF aims to track the market price of Dogecoin (DOGE), which currently trades around $0.1553 and boasts a market capitalization of $24.2 billion, making it the eighth-largest cryptocurrency by value. Created in 2013 as a satirical fork of Bitcoin via Lucky Coin, Dogecoin has since evolved into a major player in the digital asset landscape.
Coinbase Custody is listed as the proposed custodian for the ETF, though no official ticker, fee structure, or exchange listing has yet been disclosed. Notably, 21Shares must also file a 19b-4 form with the SEC to begin the official regulatory review process.
Marketing for the fund will be supported by House of Doge, the corporate arm of the Dogecoin Foundation, highlighting a unique collaboration between traditional financial players and the meme coin’s community.
Growing Momentum Behind Meme Coin ETFs
This filing follows similar spot Dogecoin ETF applications from Bitwise and Grayscale, suggesting growing institutional interest in DOGE investment products. 21Shares has also made previous filings for spot ETFs tied to Polkadot (DOT) and XRP, expanding its lineup that currently includes spot Bitcoin (BTC) and Ether (ETH) ETFs.
Analysts like James Seyffart and Eric Balchunas of Bloomberg estimate a 75% chance of SEC approval for a Dogecoin ETF in 2024, while prediction market Polymarket pegs the odds at 64%.
Meanwhile, 21Shares has already listed a fully-backed Dogecoin ETP on Switzerland’s SIX Swiss Exchange under the ticker “DOGE”, with a 2.5% management fee.
“Dogecoin has become more than a cryptocurrency—it represents a cultural and financial movement,” said 21Shares President Duncan Moir, underlining the asset’s mainstream appeal.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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