ETF Arena Expands with 21Shares’ Entry into Dogecoin Market

21Shares Joins Dogecoin ETF Push, Partners with Dogecoin Foundation Arm

The race to bring a spot Dogecoin ETF to U.S. markets is accelerating. Crypto asset manager 21Shares has officially entered the competition, becoming the third firm to file for regulatory approval, following earlier moves by Bitwise and Grayscale.

In a filing submitted Thursday, Switzerland-based 21Shares outlined its plans for a DOGE-backed ETF with Coinbase acting as a co-custodian. While key fund details such as ticker, fee structure, and listing exchange remain undisclosed, the eventual exchange partner will need to submit a 19b-4 form to the Securities and Exchange Commission (SEC), which would trigger a formal review period and decision timeline.

In a nod to Dogecoin’s unique community roots, 21Shares has also struck a partnership with House of Doge—the commercial arm of the Dogecoin Foundation—to support fund marketing efforts.

If approved, this would mark a historic first: the debut of a U.S. ETF focused on a meme coin. Originally launched as a joke, Dogecoin has since developed a loyal following and gained widespread attention, both culturally and economically. It even inspired the name of the federal Department of Government Efficiency (DOGE), a Musk-led initiative blending tech and governance.

As of now, Dogecoin stands as the ninth-largest cryptocurrency by market capitalization, holding a $23 billion valuation.

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