Dogecoin: 21Shares Files For DOGE ETF
In a bold move highlighting the growing influence of meme coins in traditional finance, Swiss-based investment firm 21Shares has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch the world’s first Dogecoin (DOGE) exchange-traded fund (ETF).
The proposed ETF, named the 21Shares Dogecoin Trust, aims to provide investors with direct exposure to DOGE while removing the technical hurdles of self-custody and crypto exchanges. If approved, this would mark a pivotal moment for Dogecoin and the broader altcoin market.
"From Joke to Financial Product"
“Dogecoin has evolved from an internet meme to a legitimate asset with a thriving ecosystem,” said Hany Rashwan, CEO and co-founder of 21Shares. “We believe DOGE has earned its place in a regulated investment structure, and we’re proud to lead the way.”
Originally created as a joke in 2013, Dogecoin’s popularity exploded over the past decade, driven by a strong online community, increasing utility in micro-transactions, and high-profile endorsements from celebrities like Elon Musk.
Why a DOGE ETF?
The 21Shares Dogecoin Trust would function similarly to recently approved Bitcoin ETFs, holding DOGE in cold storage and tracking its spot price. This allows traditional investors to gain exposure to Dogecoin via brokerage accounts—no private keys, exchanges, or crypto wallets required.
Crypto analyst Jennifer Lai from Lunar Research commented, “A Dogecoin ETF could open the floodgates for retail and institutional investors looking to diversify beyond Bitcoin and Ethereum. It’s a move that reflects growing demand for accessible crypto products.”
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Regulatory Landscape Remains Uncertain
Despite increasing acceptance of crypto ETFs, the SEC has yet to approve any ETF based on altcoins like Dogecoin. 21Shares' application is expected to be closely scrutinized, and its outcome may influence future filings involving other high-profile cryptocurrencies like Solana, XRP, and Litecoin.
Industry insiders believe that the approval of a DOGE ETF would signify a broader shift in the SEC’s approach toward altcoin-based financial products.
Looking Ahead
Should the ETF be approved, the 21Shares Dogecoin Trust is expected to list on the Cboe BZX Exchange later this year. The filing marks another milestone for 21Shares, which has positioned itself at the forefront of crypto investment innovation.
Whether Dogecoin can leap from internet sensation to Wall Street staple remains to be seen—but this ETF filing is a major step in that direction.
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