21Shares Files for Spot Dogecoin ETF with SEC, Taps Dogecoin Foundation for Support

21Shares has officially filed a proposal with the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) tied to Dogecoin. The application, submitted on April 9 via a Form S-1 registration statement, outlines the creation of the 21Shares Dogecoin ETF.

The proposed fund would passively track the price of Dogecoin using the CF DOGE-Dollar US Settlement Price Index as its benchmark. Coinbase Custody is listed as the intended custodian of the fund’s assets. The ETF will not employ leverage or derivatives—rather, it will hold actual DOGE and determine its daily net asset value (NAV) based on the index.

The Trust is structured to minimize active trading of Dogecoin, only buying or selling the asset during the creation and redemption of shares or to manage certain expenses.

To enhance visibility and engagement within the Dogecoin community, 21Shares has partnered with House of Doge—the corporate affiliate of the Dogecoin Foundation. This collaboration aims to support the ETF’s marketing, branding, and strategic outreach.

This SEC filing follows the firm’s April 8 announcement of the world’s first Dogecoin ETP, launched on Switzerland’s SIX Swiss Exchange under the ticker “DOGE.” According to 21Shares president Duncan Moir, the ETP offers investors a regulated means to participate in what he described as a “cultural and financial movement.”

The SEC is currently reviewing Dogecoin ETF proposals from multiple issuers. Grayscale submitted a Form 19b-4 on February 13, which started a 240-day review period. Bitwise followed with its own filing through NYSE Arca on March 3, while Rex Shares has also entered the race.

Market sentiment is optimistic. According to prediction platform Polymarket, there is a 64% probability that a spot Dogecoin ETF will gain approval before the end of the year.