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21Shares Files for First-Ever Dogecoin ETF with SEC

21Shares has submitted a registration form to the SEC for a Dogecoin ETF, marking a milestone for meme cryptocurrencies entering traditional financial markets.
Published on 2025-04-09

21Shares Seeks SEC Approval for Dogecoin ETF

21Shares, a leading ETF operator, has filed a registration form with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking the performance of Dogecoin. This move represents a significant step in bringing meme cryptocurrencies into mainstream financial markets.

The ETF, which will track Dogecoin's price using futures contracts from cfbenchmarks, also plans to hold the cryptocurrency directly. Approval of the fund requires the SEC to greenlight both the Form S-1 and an additional Form 19b-4 filing.

A First for Meme Cryptocurrencies

If approved, this ETF would be the first of its kind focused on a meme cryptocurrency. Dogecoin, launched in 2013 as a joke, has evolved into a widely recognized cryptocurrency, gaining traction due to endorsements from high-profile figures like Tesla CEO Elon Musk. At its peak in 2021, Dogecoin reached a market capitalization of over $85 billion.

Growing Interest in Altcoin ETFs

The filing follows a wave of interest in altcoin ETFs, as markets aim to replicate the success of spot Bitcoin ETFs launched last year. 21Shares has already made strides in this space, including a collaboration with Cathy Wood’s Ark for a spot Bitcoin ETF.

Dogecoin was trading 13.4% higher at $0.161195 as of 19:41 ET, reflecting renewed optimism around its potential inclusion in traditional financial instruments. This ETF could further legitimize meme coins as a viable investment option.

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