SEC's Approval Pending as Dogecoin ETF Completes DTCC Hurdle

21Shares’ Spot Dogecoin ETF (TDOG) has taken a critical procedural step toward a potential U.S. market debut, with its ticker now listed on the Depository Trust & Clearing Corporation (DTCC) 21Shares Dogecoin ETF Listed on DTCC Under Ticker TDOG^[1]. This development signifies the fund is preparing technical infrastructure for settlement and clearing, a prerequisite for trading but not an indication of regulatory approval from the U.S. Securities and Exchange Commission (SEC) 21Shares Dogecoin ETF Hits DTCC: What’s Next for TDOG?^[2]. The ETF, which aims to hold Dogecoin (DOGE) directly and track its spot price via a dedicated index, is custodied by Coinbase Custody Trust Company 21Shares Dogecoin (DOGE) ETF Listed on DTCC^[3].

The DTCC listing follows 21Shares’ April 2025 S-1 registration with the SEC and a subsequent Nasdaq proposal to list the fund under commodity-based trust rules 21Shares Dogecoin ETF Listed on DTCC Under Ticker TDOG^[1]. While the SEC has acknowledged the filing, a final decision remains pending, with a deadline expected by January 9, 2026 21Shares Dogecoin (DOGE) ETF Listed on DTCC^[3]. The agency’s review includes assessing investor protections, transparency, and compliance with existing regulations 21Shares Dogecoin (DOGE) ETF Listed on DTCC^[3]. The DTCC integration is part of a standard process for ETFs, ensuring operational readiness once regulatory hurdles are cleared 21Shares Dogecoin ETF Hits DTCC: What’s Next for TDOG?^[2].

Market reactions to the DTCC listing have been mixed. Dogecoin’s price dipped approximately 4% to $0.2405 in the 24 hours following the news, despite a 98% surge in 24-hour trading volume to $4.9 billion 21Shares Dogecoin ETF Listed on DTCC Under Ticker TDOG^[1]. Analysts note that while the DTCC listing is a positive technical milestone, the SEC’s approval remains pivotal. Bloomberg analyst Eric Balchunas highlighted the significance of the TDOG ticker, sparking discussions among traders and social media platforms 21Shares Dogecoin ETF Listed on DTCC Under Ticker TDOG^[1]. Meanwhile, crypto influencers and market watchers caution that Dogecoin’s volatility—driven by speculative sentiment—could lead to sharp price swings until regulatory clarity emerges 21Shares Dogecoin ETF Listed on DTCC Under Ticker TDOG^[1].

Several analysts have projected a potential Dogecoin rally, citing favorable technical indicators. Ali Martinez, a crypto expert, pointed to buy signals on Dogecoin’s price charts, suggesting a possible rebound in the current market cycle . Additionally, institutional interest in Dogecoin has grown, with entities like CleanCore Solutions expanding their treasury holdings to over 600 million DOGE tokens, valued at $160 million . These developments underscore the cryptocurrency’s evolving role as both a speculative asset and a target for institutional adoption .

The Dogecoin ETF landscape is becoming increasingly competitive. REX Shares and Osprey Funds launched the first U.S. spot Dogecoin ETF (DOJE) on September 18, 2025, offering direct exposure to the coin 21Shares Dogecoin (DOGE) ETF Listed on DTCC^[3]. Bitwise and Grayscale have also submitted applications, with decisions expected in late 2025 or early 2026 21Shares Dogecoin (DOGE) ETF Listed on DTCC^[3]. The influx of ETF proposals reflects broader trends in crypto investment products, with over 90 applications under review for assets ranging from Solana and XRP to meme coins like BONK 21Shares Dogecoin (DOGE) ETF Listed on DTCC^[3]. Regulators have recently streamlined listing standards for commodity-based ETFs, potentially accelerating approvals and expanding the total value of crypto ETF assets toward $200 billion by year-end 21Shares Dogecoin (DOGE) ETF Listed on DTCC^[3].

Investors are advised to monitor key developments closely. The SEC’s decision on 21Shares’ ETF will determine its launch timeline and broader market implications. If approved, the TDOG ETF could attract institutional capital, further legitimizing Dogecoin as an investment vehicle 21Shares Dogecoin ETF Listed on DTCC Under Ticker TDOG^[1]. Meanwhile, the performance of existing Dogecoin ETFs and regulatory responses to other altcoin proposals will shape investor sentiment. Market participants should also watch for updates from 21Shares and Nasdaq regarding official launch dates 21Shares Dogecoin ETF Listed on DTCC Under Ticker TDOG^[1].

The DTCC listing underscores the growing institutional interest in meme coins, a category once dismissed as speculative. Dogecoin’s journey from a 2013 internet meme to a $36 billion market cap asset highlights its unique position in the crypto ecosystem . While regulatory scrutiny remains a hurdle, the ETF race signals a shift in how traditional finance is integrating digital assets. For now, the TDOG ticker remains a procedural milestone, with the SEC’s final nod required to unlock the next phase of Dogecoin’s market evolution 21Shares Dogecoin ETF Listed on DTCC Under Ticker TDOG^[1].