Nasdaq Seeks SEC Approval for 21Shares Dogecoin ETF

This move aims to provide investors with regulated exposure to Dogecoin, a popular cryptocurrency known for its meme origins and strong community support. Let's delve into this proposed Dogecoin ETF.

Dogecoin ETF: Bridging Crypto and Wall Street

The 21Shares Dogecoin ETF is designed to track the performance of Dogecoin (DOGE) by measuring the CF Dogecoin-Dollar Settlement Price (DOGEUSD_RR). Coinbase will serve as custodian, ensuring secure storage of the underlying DOGE tokens. Unlike some ETFs that use derivatives, this ETF will hold actual DOGE, providing investors with direct exposure to its price movements.

Nasdaq has filed an application with the U.S. SEC to list and trade the 21Shares Dogecoin ETF under Nasdaq Rule 5711(d). 21Shares US LLC sponsors the ETF.

This ETF offers a new avenue for investors, particularly institutional investors, to access Dogecoin within traditional financial markets while benefiting from regulatory oversight and the familiarity of exchange-traded products. Its approval could pave the way for other cryptocurrency ETFs, further integrating digital assets into mainstream finance.

Crypto ETF Growth: A Look at Bitcoin

Last week, Bitcoin ETF inflows reached a record high, exceeding new Bitcoin supply issuance by over eleven times. This unprecedented absorption ratio, peaking around April 14-20, 2025, highlights the significant institutional demand for Bitcoin through ETFs.

A chart (previously included) illustrated Bitcoin's price alongside this absorption ratio, showing ETF inflows consistently outpacing new supply since early 2024.

Disclaimer

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