21Shares Files for First Spot Dogecoin ETF in US

21Shares, a prominent global leader in cryptocurrency exchange-traded funds (ETFs), has submitted an application with the US Securities and Exchange Commission (SEC) to launch the first spot Dogecoin ETF in the U.S. This move signifies a potential new chapter for Dogecoin (DOGE), as its approval would indicate growing institutional backing for the memecoin. The official filing of the S-1 form aims to integrate the widely recognized yet often underestimated cryptocurrency into regulated financial markets. The ETF will track DOGE using the CF Dogecoin-Dollar Settlement Price, allowing investors to gain exposure to the cryptocurrency without directly holding the coin.

21Shares has joined a growing list of firms pushing crypto ETFs through the SEC under the more crypto-friendly administration led by Paul Atkins. With this latest move, it becomes the third asset manager to file for a DOGE ETF, following similar attempts by Grayscale and Bitwise. The ETF filing coincides with 21Shares launching a physically-backed Dogecoin ETP on the SIX Swiss Exchange. Developed in exclusive partnership with the House of Doge, the ETP is the first and only one endorsed by the Dogecoin Foundation. This dual-market push reflects 21Shares’ intent to bridge global exposure to DOGE from both U.S. and European investors.

If approved, the Dogecoin ETF will be managed by 21Shares with Coinbase as its official custodian. The ETF aims to simplify access to Dogecoin through conventional investment channels while ensuring compliance with U.S. regulatory standards. The filing comes as Dogecoin struggles from $0.14. An ETF filing has reassured DOGE holders after macroeconomic concerns depressed its price. Expectations rose this week as the crypto market rose. Market experts say the ETF and macro signals are increasing institutional crypto interest.

Paul Atkins, confirmed in April as SEC Chair with a 52-44 Senate vote, is known for a pro-crypto stance. Since then, the SEC has suspended or withdrawn other enforcement cases against significant cryptocurrency companies including Coinbase, Kraken, and Ripple. The SEC is now under his direction examining applications for a variety of altcoin-based ETFs, including those for Solana, Litecoin, XRP, and Dogecoin. The intentional timing of 21Shares’ Dogecoin ETF filing emphasizes increasing confidence that approvals are increasingly probable in this changing regulatory context.

21Shares’ collaboration with the House of Doge is not just symbolic — it represents a structured partnership between institutional finance and the Dogecoin community. The Dogecoin Foundation has backed the ETP initiative on the SIX Swiss Exchange, and the same parties are expected to jointly promote the U.S.-based ETF if approved. This partnership underscores the growing institutional interest in Dogecoin and the potential for increased market momentum as more investors gain access to the cryptocurrency through regulated financial products.