The first-ever Dogecoin (DOGE) exchange-traded fund (ETF) has officially begun trading on the Nasdaq stock exchange. The fund, launched by asset manager 21Shares under the ticker symbol TDOG, received the official backing of the Dogecoin Foundation, marking a significant step toward institutional legitimacy for the memecoin.
The ETF structure provides investors with regulated exposure to Dogecoin's price movements without requiring direct ownership or custody of the underlying tokens, mirroring the path previously taken by Bitcoin and Ethereum ETFs. This development is seen as a major reputational shift for Dogecoin, transitioning it from a meme-driven internet phenomenon to a formal financial market instrument accessible through traditional brokerage accounts.
Concurrently, platforms like DogeStaking are being promoted as complementary services that allow investors to generate daily yield from their digital asset holdings. The platform, which claims to be headquartered in the UK and compliant with EU regulatory frameworks like MiCA, offers automated staking pools for assets including DOGE, XRP, BTC, ETH, and USDT. It advertises the potential for investors to earn substantial daily income, with examples suggesting returns could reach up to approximately $9,000 per day for large allocations when combining ETF holdings with staking strategies.
At the time of the ETF's launch, Dogecoin was trading around $0.1249, with a market capitalization exceeding $21 billion. Analysts suggest the ETF's primary impact is structural, potentially reshaping Dogecoin's price discovery through the introduction of stable, passive institutional capital flows, rather than causing an immediate price surge.
