Digital asset manager 21Shares has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin exchange-traded fund (ETF), while simultaneously announcing a partnership with House of Doge for a Swiss-listed product.
The proposed U.S. spot Dogecoin ETF would track the price of the popular memecoin, with Coinbase Custody serving as the fund's custodian. The House of Doge, the corporate arm of the Dogecoin Foundation, will support 21Shares with marketing efforts for the fund.
This filing follows similar applications from competitors Bitwise and Grayscale, reflecting growing institutional interest in Dogecoin. Bloomberg ETF analysts currently estimate a 75% chance of SEC approval for a spot Dogecoin ETF this year.
In parallel with the U.S. filing, 21Shares announced the launch of a fully backed Dogecoin exchange-traded product on Switzerland's SIX Swiss Exchange under the ticker "DOGE" with a 2.5% fee. This product represents the first Dogecoin ETP endorsed by the Dogecoin Foundation.
"Dogecoin has become more than a cryptocurrency: it represents a cultural and financial movement that continues to drive mainstream adoption," said Duncan Moir, President at 21Shares.
Jens Wiechers, Advisory Board Member at House of Doge, emphasized the partnership's role in advancing Dogecoin's vision: "This initiative provides a regulated path for institutions to participate in and amplify the 'Dogecoin is Money' vision, while honoring the community's spirit."
Originally created in 2013, Dogecoin has evolved into the eighth-largest cryptocurrency by market value, currently worth $24.2 billion. Major brands including Microsoft and AMC Theatres now accept Dogecoin as a payment method, highlighting its growing mainstream adoption.
21Shares currently manages over $7.3 billion in assets and maintains listings on 11 major exchanges, including SIX Swiss Exchange, Nasdaq, and Euronext.