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- 21Shares has filed for a Dogecoin ETF with the SEC aiming to give institutional investors exposure to DOGE
- The ETF will directly hold Dogecoin with Coinbase Custody managing the assets and tracking its price
- If approved it could be a major milestone for memecoins in mainstream finance opening doors for future products
A filing published on April 9 by the SEC confirms that 21Shares has officially applied for a Dogecoin ETF, marking a major institutional push for the memecoin. The new product will look to give traditional investors ‘exposure’ to $DOGE, tracking its price through the CF DOGE-Dollar US Settlement Price Index.
The ETF ticker is yet-to-be-disclosed, and will allow traders to buy and sell shares just like they would with any traditional stock or commodity ETF. Each share will represent fractional ownership of the trust’s Dogecoin holdings, and its Net Asset Value (NAV) will be calculated daily based on Dogecoin’s market price at 4:00 p.m. ET.
The 21Shares Dogecoin ETF filing confirms that it will not use leverage or derivatives, meaning its price should closely reflect Dogecoin’s market performance. However, like other crypto ETFs, it will still be adjusted for expenses and liabilities, so it may not track price movements with absolute real-time precision. The fund will follow the CF DOGE-Dollar US Settlement Price Index, which aggregates pricing from various exchanges, potentially smoothing out short-term volatility.
Fund Structure and Custody
The ETF will hold and store Dogecoin directly, with Coinbase Custody Trust Company acting as the official custodian for all DOGE assets. House of Doge Inc., the corporate arm of the Dogecoin Foundation, will assist with marketing, licensing, and strategy, strengthening the ETF’s connection to the original Dogecoin ecosystem.
Creation and redemption of ETF shares will be handled exclusively by Authorized Participants, who will exchange cash for shares instead of handling Dogecoin directly. This structure simplifies access for traditional investors while ensuring the trust’s DOGE reserves remain secure and professionally managed.
Who Is 21Shares?
21Shares, a Swiss-based crypto investment firm, has become one of the most influential issuers of cryptocurrency-backed ETFs. The company pioneered regulated crypto ETPs, launching funds for Bitcoin, Ethereum, Solana, and several other major digital assets.
The Dogecoin ETF filing signals a potential shift in perception by institutional investors to the memecoin sector. If approved, the ETF may be considered a significant step forward for legitimizing DOGE in mainstream finance – potentially paving the way for further adoption later down the road.
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