21Shares Secures Approval to Launch Spot Dogecoin ETF in the U.S.

Asset manager 21Shares has received regulatory clearance to launch its spot Dogecoin exchange-traded fund (ETF) in the United States. The product will trade under the ticker TDOG after the firm filed its final prospectus with the U.S. Securities and Exchange Commission.

The approval marks another milestone for Dogecoin’s integration into traditional financial markets, expanding regulated investment options tied to the popular memecoin.

Third Dogecoin ETF Enters U.S. Market

The 21Shares fund becomes the third spot Dogecoin ETF to debut in the United States. Grayscale and Bitwise previously launched comparable products in November 2025, signaling growing institutional acceptance of DOGE-based investment vehicles.

With TDOG’s launch, both institutional and retail investors gain an additional regulated pathway to access Dogecoin price exposure without directly holding or managing the underlying cryptocurrency.

Dogecoin Price Holds Steady After Approval

Despite the regulatory milestone, Dogecoin’s market price showed limited immediate reaction. At the time of writing, DOGE was trading at approximately $0.1366, reflecting a 3.16% decline over the past 24 hours.

During early trading sessions, price action remained relatively stable, fluctuating between $0.135 and $0.142. The muted response suggests the approval was largely anticipated by the market.

Fund Tracks Spot DOGE Price With 0.50% Fee

The 21Shares Dogecoin ETF is designed to track the CF Dogecoin Dollar US Settlement Price Index, providing exposure that closely mirrors spot DOGE valuations. The fund carries a management fee of 0.50%, charged daily and settled weekly in Dogecoin tokens.

Unlike some competing ETF offerings, 21Shares did not introduce a temporary fee waiver, opting instead for a straightforward pricing structure from launch.

Major Financial Institutions Support Fund Operations

To support the ETF’s operations, 21Shares has partnered with several established financial institutions. Bank of New York Mellon will act as administrator, cash custodian, and transfer agent for the fund.

Digital asset custody duties will be shared among Coinbase Custody Trust, Anchorage Digital Bank, and BitGo. This multi-custodian framework is intended to strengthen asset security while reducing counterparty risk.

Simplified Access for Traditional Investors

The ETF structure allows investors to gain Dogecoin exposure through standard brokerage accounts, removing the need to use cryptocurrency exchanges or manage private keys. This approach lowers technical barriers and simplifies participation for traditional market participants.

Additionally, tax reporting is streamlined, as the ETF issues standard 1099 forms rather than requiring cryptocurrency-specific tax documentation.

Growing Institutional Footprint for Memecoins

The approval of TDOG underscores the expanding role of memecoins within regulated financial products. While Dogecoin’s price reaction has been modest, the growing number of ETF offerings reflects sustained institutional interest and increasing acceptance of digital assets beyond Bitcoin and Ethereum.

As more regulated vehicles enter the market, Dogecoin’s presence in traditional finance continues to strengthen, even as short-term price movements remain subdued.