Dogecoin’s long-awaited exchange-traded fund could finally be nearing approval, as 21Shares moved to update its application just as U.S. regulators return to business following weeks of paralysis from the government shutdown.
The Swiss issuer, known for pioneering several crypto-based ETFs, filed a revised S-1 form confirming its Dogecoin product’s ticker symbol, TDOG, and outlining its operational structure for listing on Nasdaq. The fund will mirror the performance of Dogecoin through the CF Dogecoin-Dollar U.S. Settlement Price Index, a benchmark designed to capture the token’s daily market movements.
In its updated submission, 21Shares identified Coinbase Custody Trust Company as the official asset custodian and Wilmington Trust NA as trustee, with Foreside Global Services overseeing marketing and Cohen & Company handling audits. The document also revealed that 21Shares US LLC will provide $1.5 million in seed capital—money that will be converted into DOGE before trading begins.
Unlike traditional ETFs, this one introduces a quirky twist: the management fee, which accrues daily, will be paid in Dogecoin every two weeks. The actual rate remains undisclosed, as issuers typically wait for competitors to reveal their pricing first.
While the SEC has yet to issue a decision, market observers believe the wait may soon end. Analysts at Bloomberg Intelligence recently placed the probability of approval at 99%, citing multiple amended filings and the fund’s DTCC listing, a technical step required before trading can commence.
The optimism surrounding crypto ETFs has intensified in Washington. A recent roundtable featuring executives from Ripple, Coinbase, Chainlink, Galaxy, Kraken, Uniswap, and Circle reportedly reinforced bipartisan interest in moving the industry forward. ETF specialists Nate Geraci and Eric Balchunas now expect that once the SEC clears its backlog, several crypto ETFs—including Dogecoin’s—could be approved together in a single batch.
Dogecoin’s market performance seems to echo that optimism. The meme-inspired cryptocurrency surged over 6% to $0.20 within a day, bouncing from technical support levels. Market analyst Ali Martinez highlighted a possible continuation toward $0.29, and potentially higher resistance zones near $0.45 and $0.86, if ETF approval finally materializes.
After months of delays, the stage appears set for Dogecoin to make its Wall Street debut—an unprecedented moment for a token that began as a joke but could soon become a fully regulated investment vehicle.
