Asset manager 21Shares is set to launch its spot Dogecoin ETF this week after filing a final prospectus with the U.S. Securities and Exchange Commission. The filing, submitted under Form 424B3, allows the fund to become effective automatically and begin trading on Nasdaq under the ticker TDOG.
The approval places 21Shares among a small but growing group of issuers offering regulated exposure to Dogecoin. The fund becomes the third spot Dogecoin ETF, following launches by Grayscale (GDOG) and Bitwise (BWOW), both of which entered the market in November. Together, these products signal increasing institutional acceptance of Dogecoin, a token once viewed primarily as a retail-driven novelty.
The ETF is designed to track the spot price of DOGE using the CF Dogecoin–Dollar U.S. Settlement Price Index, providing investors with direct price exposure without the need to hold the cryptocurrency themselves. This structure is intended to appeal to traditional investors seeking access through regulated market infrastructure.
Fees, Custody and Fund Structure
21Shares set the ETF’s management fee at 0.50%, accruing daily and payable weekly in DOGE. Unlike some competitors in the digital-asset ETF space, the firm did not announce a temporary fee waiver, making pricing transparency a key consideration for investors comparing options.
The operational setup relies on established financial and crypto-native institutions, underscoring an emphasis on security and compliance. According to the prospectus, Bank of New York Mellon will serve as administrator, cash custodian and transfer agent, while digital asset custody will be handled by Coinbase Custody Trust, Anchorage Digital Bank, and BitGo.
Key features of the ETF include:
- Ticker: TDOG (Nasdaq-listed)
- Fee: 0.50% annually, no waiver disclosed
- Benchmark: CF Dogecoin–Dollar Index
- Custodians: Coinbase, Anchorage, BitGo
- Administrator: Bank of New York Mellon
This framework mirrors structures used by other spot crypto ETFs, aiming to meet regulatory standards while managing operational risk.
DOGE Price Reacts as Volume Surges
The announcement coincided with renewed activity in Dogecoin markets. DOGE rose more than 1% over 24 hours, trading near $0.14, with intraday moves between $0.135 and $0.142. Trading volume jumped 111%, pointing to heightened interest around the ETF launch.
Technical indicators suggest a cautious but constructive setup. Dogecoin remains above its 50-day moving average near $0.138, while the Relative Strength Index around 53 reflects neutral momentum rather than overbought conditions. Analysts note that sustained inflows could test higher levels, with $0.20 cited as a near-term psychological target if demand builds.
Derivatives data shows mixed positioning. DOGE futures open interest stands near $1.8 billion, with modest gains on major venues such as Binance and OKX offset by declines on others. This divergence suggests traders are still assessing the ETF’s impact rather than committing aggressively.
As spot Dogecoin ETFs expand, the market is entering a new phase where institutional access, fee competition and liquidity may play a larger role in shaping DOGE’s price behavior.
