21Shares Files for Spot Dogecoin ETF, Partnering with House of Doge to Expand Regulated Crypto Access

Dogecoin could soon be included in mainstream exchange-traded funds (ETFs) as 21Shares seeks SEC approval for a fund directly tracking the DOGE price. A recent Senate vote confirming a new SEC chair may significantly impact decisions on Dogecoin and other pending crypto ETF proposals.

21Shares has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for a spot Dogecoin ETF. This proposed fund, the 21Shares Dogecoin ETF, would enable investors to track DOGE's price without directly purchasing the cryptocurrency.

This filing adds to the growing number of firms seeking to launch crypto-based ETFs in the U.S. Bitwise also filed for a Dogecoin ETF in January. 21Shares already manages spot ETFs for Bitcoin and Ethereum, overseeing $4.6 billion in assets under management within its Bitcoin fund, ARKB.

Exclusive Partnership with House of Doge

Concurrently with the ETF filing, 21Shares announced an exclusive partnership with House of Doge. This collaboration provides financial backing for funds approved by the Dogecoin Foundation. House of Doge is a Dogecoin Foundation-backed project playing a crucial role in managing Dogecoin's digital ecosystem.

The partnership includes a fully backed Dogecoin exchange-traded product (ETP) launching on the SIX Swiss Exchange. Trading under the ticker “DOGE,” this ETP will have a 2.5% management fee, offering investors regulated exposure to Dogecoin outside the U.S.

Dogecoin's Market Presence and Utility

Dogecoin boasts a market capitalization of approximately $24 billion, ranking it as the eighth-largest cryptocurrency. Initially conceived as a playful alternative to Bitcoin, Dogecoin has evolved into a valuable asset with practical applications. It's widely used for online tipping, charitable donations, and small payments.

This proposed ETF aims to expand access to Dogecoin by providing investors with a transparent and regulated investment vehicle. By offering a fund tracking DOGE's price, 21Shares hopes to attract both retail and institutional investors.

ETF Filing Precedes SEC Leadership Change

The filing comes at a crucial juncture following the Senate's confirmation of Paul Atkins as the new SEC chair. Atkins is generally considered more crypto-friendly than his predecessor, Gary Gensler. His appointment could influence the speed and outcome of pending ETF applications.

Last month, the SEC delayed decisions on several crypto ETF proposals, including those for Litecoin, Solana, XRP, and Dogecoin. Analysts attributed these delays to the impending leadership change at the agency.

Crypto Market Reaction

This ETF filing coincided with former President Donald Trump's announcement of a three-month delay for new U.S. tariffs. The cryptocurrency market rallied significantly following the ETF news. Bitcoin surged 6.73% to $82,067, while Dogecoin, Ethereum, XRP, and Solana experienced double-digit percentage increases. Prior to the announcement, the cryptocurrency market had shown consistent weakness, with Bitcoin reaching a five-month low of $74,000.