21Shares has received regulatory clearance from the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin exchange-traded fund (ETF). The fund will trade under the ticker symbol TDOG following the company's filing of its final prospectus with the regulator.
This approval marks the third Dogecoin ETF to enter the U.S. market, following similar products launched by Grayscale and Bitwise in November 2025. The fund is designed to provide both institutional and retail investors with a regulated avenue to gain exposure to Dogecoin without the need to directly hold the digital asset.
The 21Shares Dogecoin ETF will track the CF Dogecoin Dollar US Settlement Price Index to mirror spot DOGE valuations. It carries a management fee of 0.50%, which will be charged daily and settled weekly in Dogecoin tokens. Notably, the filing did not include a fee waiver.
Operational responsibilities for the ETF will be handled by a consortium of established financial institutions. Bank of New York Mellon will serve as the administrator, cash custodian, and transfer agent. Digital asset custody will be distributed among three providers: Coinbase Custody Trust, Anchorage Digital Bank, and BitGo, a multi-custodian approach intended to enhance security and reduce counterparty risk.
At the time of the announcement, Dogecoin was trading at $0.1366, representing a 2.20% decrease over 24 hours. Despite the regulatory milestone, the price remained relatively stable, fluctuating between $0.135 and $0.142 during early trading sessions. However, trading volume for DOGE surged 152.09% to $1.22 billion in the 24 hours following the news, indicating heightened market interest. Futures market data presented a mixed sentiment, with open interest increasing on Binance and OKX but declining on Bybit and Gate.io.
