Overview

21Shares is making headlines with its recent filing for a spot dogecoin (DOGE) ETF in the U.S., joining fellow asset managers Bitwise and Grayscale.

Key Details

• 21Shares has partnered with the Dogecoin Foundation’s corporate branch, the House of Doge, for marketing the ETF.

The ETF would be held in custody by 21Shares and Coinbase, but details regarding the ticker symbol and the stock exchange listing remain unannounced. Any exchange chosen would need to submit a 19b-4 filing to the SEC to formalize the proposal and establish a decision timeline.

Should the ETF be approved, it would be notable as the first ETF linked to a meme coin; previously, DOGE started as a humorous concept but has since gained significant traction, even inspiring an initiative titled the Department of Government Efficiency (DOGE), led by Elon Musk.

At present, DOGE ranks as the ninth largest cryptocurrency, boasting a market cap of approximately $23 billion.