April 10, 2025 — In a bold move that could redefine crypto investing, digital asset manager 21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin ETF — potentially making DOGE the next cryptocurrency to hit Wall Street in a big way.
The proposed 21Shares Dogecoin ETF aims to directly track the market price of Dogecoin (DOGEUSD), the meme-inspired cryptocurrency that started as a joke but evolved into a multi-billion dollar asset. The filing, submitted on April 9 via a Form S-1 registration statement, signals a growing appetite for crypto-based exchange-traded funds in the United States.
With this filing, 21Shares joins a rising wave of competition from major players like Bitwise and Grayscale, both of which have also expressed interest in bringing Dogecoin to traditional financial markets through ETF products.
From Meme to Market: The Role of the Dogecoin Foundation
Backing the 21Shares effort is the Dogecoin Foundation’s corporate arm, House of Doge, which will reportedly support the ETF’s marketing initiatives. This partnership underscores how the DOGE community is evolving from grassroots internet culture to institutional acceptance.
While details such as the ETF’s ticker symbol, management fee, and stock exchange listing remain under wraps, one major component has been revealed: Coinbase Custody is slated to serve as the fund’s official custodian. The involvement of a regulated, high-profile custodian could help reassure both the SEC and investors about the security of the underlying assets.
Wall Street’s Growing Appetite for Crypto ETFs
This development arrives amid renewed optimism in the crypto ETF space, following the successful launches of several spot Bitcoin ETFs earlier this year — which saw billions in inflows within weeks. Analysts believe that a Dogecoin ETF, despite its meme coin origins, could attract strong demand from younger investors and retail traders looking for exposure to altcoins without the hassle of crypto wallets and private keys.
As the crypto industry inches closer to mainstream adoption, 21Shares’ filing may be the first serious step toward legitimizing Dogecoin in the eyes of institutional investors — transforming it from an internet sensation to a Wall Street asset.
