21 Shares Officially Files for Dogecoin ETF, DOGE Price Soars

Highlights:

• 21Shares files for Dogecoin ETF in the United States, offering regulated exposure to DOGE.
• Coinbase Custody proposed as custodian for 21Shares’ Dogecoin ETF amid positive outlook.
• 21Shares launches Dogecoin ETP on SIX Swiss Exchange with 2.5% fee and ticker DOGE.

On April 9, 21Share, an asset manager, filed an S-1 registration form with the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin (DOGE) exchange-traded fund (ETF). ​The 21Shares Dogecoin ETF would seek to track Dogecoin’s price, allowing investors to gain exposure without directly holding the cryptocurrency. The asset manager is now the third to apply for a DOGE ETF, following Grayscale and Bitwise. Next, it must submit a 19b-4 form through an exchange to begin the official approval process with the Commission.

21Shares announced Coinbase Custody as the proposed custodian for its Dogecoin ETF but did not reveal the fee, ticker, or exchange for listing. This likely signals a positive outlook for Dogecoin’s price, as the move could increase adoption and attract more investment into its ecosystem.

NEW: @21Shares Files for a spot Dogecoin ETF

(joining Grayscale & Bitwise) pic.twitter.com/o0MAli4SMQ

— James Seyffart (@JSeyff) April 9, 2025

21Shares Expands Crypto Offerings

Moreover, on April 9, 21Shares announced a partnership with the House of Doge to launch a fully backed Dogecoin exchange-traded product (ETP) on the SIX Swiss Exchange. The 21Shares ETP will trade as “DOGE” with a 2.5% fee. 21Shares president Duncan Moir emphasized Dogecoin’s significance beyond being a cryptocurrency. He added that it represents a cultural and financial movement, driving mainstream adoption. Moir also mentioned that DOGE gives investors a regulated way to join this exciting project.

Much wow. Now live! In partnership with @houseofdoge, we're excited to introduce the only Dogecoin ETP endorsed by @dogecoinfdn, now available through your bank or brokerage.

Here's to the meme that made it.

Many details: https://t.co/f143znekt1

Disclaimer: This document… pic.twitter.com/Mqewu1HeNB

— 21Shares (@21Shares) April 9, 2025

21Shares’ proposed Dogecoin ETF is part of its broader effort to expand its spot crypto ETFs, which currently include only a Bitcoin and Ether fund. The company also filed with the regulator in February for a spot Polkadot (DOT) ETF and applied last year to launch a spot XRP ETF.

The filing comes at a key time as the Senate prepares to vote on Paul Atkins’ nomination to lead the SEC. Atkins is known to be more supportive of cryptocurrency than the former chair, Gary Gensler. A crypto-friendly SEC chair could speed up the adoption of innovative ETF products by providing clearer regulations. Last month, the SEC delayed decisions on several proposals for Litecoin, Dogecoin, Solana, and XRP ETFs, showing the agency’s cautious stance.

I'm pleased Paul Atkins is confirmed as Chairman of the SEC. I sat down w/ Mr. Atkins to discuss digital asset legislation, empowering Wyoming’s blockchain future & implementing reforms to the regulatory rulemaking process. I'm confident his leadership will bring positive change. pic.twitter.com/1cpGrNjSrg

— Senator Cynthia Lummis (@SenLummis) April 9, 2025

Dogecoin’s Market Cap Hits $24 Billion Amid Crypto Rally

Dogecoin has a market cap of around $24 billion and trades at about $0.15. As the eighth-largest cryptocurrency, its inclusion in mainstream ETFs could attract new investments.

The filing came shortly after Donald Trump announced a 90-day pause on new tariffs, sparking a significant rally in the crypto market. Bitcoin rose by 6.73%, reaching $82,067. Ethereum, Dogecoin, and XRP saw gains above 10%, while Solana surged by 13%. Before the announcement, the crypto market was in decline. Bitcoin dropped to $74,000, its lowest in five months. Ethereum and XRP also fell over 20%. After the news, the market quickly rebounded.

As Trump announced a 90-day suspension of the tariff war with most countries, the cryptocurrency market rose sharply, with ETH rising 15% to over $1,600 and XRP rising 15.3% to over $2. The liquidation amount in 24 hours reached $587 million, and the short position liquidation…

— Wu Blockchain (@WuBlockchain) April 9, 2025