Swiss-based asset manager 21Shares has moved closer to launching a Dogecoin exchange-traded fund (ETF) in the United States.
The proposed product, listed under the ticker TDOG, recently appeared on the Depository Trust & Clearing Corporation (DTCC) website, signaling preparation for a potential market debut.
However, the listing does not indicate an imminent approval. It is part of the standard technical setup before trading begins for any ETF. The U.S. Securities and Exchange Commission (SEC) still holds the final say on whether the fund can launch.
SEC Review Process Still in Progress
The U.S. Securities and Exchange Commission is currently evaluating the 21Shares filing. The company submitted its registration statement on April 9, 2025, through Form S-1. The SEC formally acknowledged it in mid-May 2025, beginning the review.
This process includes several rounds of public comments and agency feedback. Regulators will examine whether the ETF protects investors, ensures transparency, and meets existing compliance rules. The SEC’s final deadline for a decision is January 9, 2026.
Structure of the Proposed ETF
If approved, the 21Shares ETF would hold Dogecoin directly, unlike futures-based products. Its value will be tracked through a dedicated spot index. The cryptocurrency itself would be stored securely by Coinbase Custody Trust Company, a well-known provider of institutional custody services.
This structure aims to provide investors with regulated access to Dogecoin while reflecting its actual market price. For many, such products offer a simpler alternative to buying and storing tokens directly.
Competition in the Dogecoin ETF Market
The race to offer Dogecoin investment products is heating up. Earlier this month, REX Shares and Osprey Funds introduced DOJE, the first U.S.-listed Dogecoin ETF. This product already gives investors direct exposure to the token.
Meanwhile, Bitwise is also pursuing approval for its Dogecoin ETF. The SEC recently extended its decision deadline for that proposal until November 12, 2025.
At the time of writing, Dogecoin trades at $0.2421. The price has risen 1% in the last 24 hours, although it is still down 9.2% over the past week.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
