21Shares Aims to Launch the First Spot Dogecoin ETF

In a bold and strategic move, 21Shares—a leading crypto asset management firm—has officially filed a proposal with the U.S. Securities and Exchange Commission (SEC) to launch the first-ever spot Dogecoin ETF. The application, submitted on April 9, 2025, signals growing momentum around meme coins becoming mainstream investment assets.

The proposed 21Shares Dogecoin ETF would directly track the CF DOGE-Dollar US Settlement Price Index, allowing investors to gain exposure to Dogecoin (DOGE) without having to manage private keys or use crypto exchanges.




What Makes the 21Shares Dogecoin ETF Unique?

Unlike futures-based ETFs or complex derivative products, this spot crypto ETF is designed as a passive investment vehicle. The fund would hold actual Dogecoin in cold storage—secured by Coinbase Custody—and update its net asset value (NAV) daily based on Dogecoin’s spot price.

This setup appeals to both retail and institutional investors looking for a simple, transparent, and secure way to invest in Dogecoin. The ETF would limit active trading, engaging only in minimal transactions related to share creation/redemption or operational costs.




Global Strategy: First Dogecoin ETP Launched in Switzerland

This SEC filing follows another major milestone for 21Shares—the launch of the world’s first Dogecoin ETP on the SIX Swiss Exchange, tickered as DOGE. This Swiss-based product already provides regulated exposure to Dogecoin, and the U.S. ETF proposal could significantly expand access if approved.

Duncan Moir, President of 21Shares, stated that the goal is to offer investors a safe and regulated way to participate in the Dogecoin ecosystem—bridging the gap between crypto culture and traditional finance.




Industry-Wide Momentum for Dogecoin ETFs

21Shares isn’t the only firm eyeing the Dogecoin ETF market. Grayscale, Bitwise, and Rex Shares have also filed similar applications with the SEC. Grayscale’s spot Dogecoin ETF is currently under a 240-day review process, indicating growing competition and regulatory interest in meme-coin-based funds.

According to Polymarket, a prediction platform, there’s a 64% probability that the SEC will approve a Dogecoin ETF in 2025, reflecting strong market optimism.




Why the Spot Dogecoin ETF Matters

The potential approval of a spot Dogecoin ETF would mark a turning point for meme coin investing and crypto ETF regulation in the U.S. For everyday investors, it creates a hassle-free entry point into Dogecoin, while also boosting the legitimacy of DOGE as a long-term asset class.

As demand grows for regulated crypto investment products, the 21Shares Dogecoin ETF could pave the way for a new wave of meme coin ETFs, and possibly open the doors for other altcoins to follow.




Final Thoughts: Will the SEC Approve the 21Shares Dogecoin ETF?

With rising institutional interest, strong retail demand, and increasing pressure on the SEC to modernize crypto regulation, the odds of approval are looking favorable. If the 21Shares Dogecoin ETF gets the green light, it would be a major win for the crypto industry and investors alike.

Stay tuned to Crypto Spectators for updates on Dogecoin ETF approval, market trends, and insights on the future of crypto .