21Shares Files for Spot Dogecoin ETF in the U.S., Expands DOGE Offering to Switzerland

21Shares Seeks SEC Approval for Spot Dogecoin ETF, Partners with House of Doge

Crypto asset manager 21Shares has officially filed a Form S-1 registration with the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin exchange-traded fund (ETF), marking a bold move to capitalize on the memecoin’s growing investor interest. The filing comes as competitors Bitwise and Grayscale have also lined up for similar approvals.

According to the April 9 submission, the ETF aims to track the real-time market price of Dogecoin (DOGE), which is currently trading at $0.1563 with a market capitalization of $24.2 billion—making it the eighth-largest cryptocurrency by value. The Dogecoin Foundation’s corporate entity, House of Doge, is set to support the fund’s marketing efforts.

21Shares has named Coinbase Custody as the proposed custodian for the ETF, though key details—including the ticker symbol, fee structure, and listing exchange—are yet to be disclosed. In addition to the S-1, 21Shares will also need to file a 19b-4 form to initiate the SEC’s formal approval process.

Dogecoin, launched in 2013 as a tongue-in-cheek crypto experiment, has since evolved into a widely recognized asset, fueled by a passionate community and cultural cachet amplified by public figures such as Elon Musk.

Source: James Seyffart

A Growing Crypto ETF Portfolio

The Dogecoin filing adds to 21Shares’ growing portfolio of spot crypto ETFs, which already includes funds tracking Bitcoin (BTC) and Ether (ETH). In February, the firm also filed for a spot Polkadot (DOT) ETF, and last year, it submitted a proposal for a spot XRP (XRP) ETF.

Analysts believe this wave of filings reflects a broader strategy by ETF issuers to explore every viable option under a more crypto-friendly SEC leadership.

“Issuers will try to launch many, many different things and see what sticks,” said Bloomberg ETF analyst James Seyffart, describing the trend as a "spaghetti cannon approach."

Seyffart, along with fellow analyst Eric Balchunas, estimated a 75% chance of a spot Dogecoin ETF gaining approval in 2025. On the prediction market platform Polymarket, bettors currently give it a 64% chance.

DOGE ETF Launches in Switzerland

In a parallel development, 21Shares also announced on April 9 a partnership with House of Doge to launch a physically backed Dogecoin exchange-traded product (ETP) on the SIX Swiss Exchange. The product will trade under the ticker “DOGE” with an annual fee of 2.5%.

Duncan Moir, President of 21Shares, emphasized Dogecoin’s growing significance:

“Dogecoin has become more than a cryptocurrency: it represents a cultural and financial movement that continues to drive mainstream adoption. This product gives investors a regulated avenue to be part of that journey.”

With both U.S. and international DOGE products in motion, 21Shares is positioning itself at the forefront of the next wave of crypto ETFs—one that's increasingly embracing the meme economy as part of serious financial instruments.