The burgeoning interest in a Dogecoin exchange-traded fund (ETF) has just received a substantial boost, making it feel more attainable than ever. This renewed optimism is largely due to a pivotal regulatory update: the U.S. Securities and Exchange Commission (SEC) has formally recognized the application from 21Shares for a Dogecoin ETF, thereby initiating a thorough review process.
SEC Begins Review Process for 21Shares’ Dogecoin ETF Filing
The SEC’s formal acknowledgment of the 21Shares DOGE ETF filing marks an essential milestone. On May 13, 2025, the Commission released a notice confirming it had accepted Nasdaq’s request to list 21Shares’ Dogecoin ETF, placing the proposal officially on the public record of discussions.
It’s crucial to understand, however, that this acknowledgment does not signify approval. Instead, it triggers a period for scrutiny and public commentary which may last up to 240 days, culminating in a final decision. The SEC’s deadline for the possibility of a decision on the 21Shares DOGE ETF is pinned at January 9, 2026, if all available extensions are utilized. This development solidifies a timeline and indicates that the SEC is indeed engaging with the potential of a DOGE fund.
21Shares, a prominent asset manager based in Switzerland, first filed for a Dogecoin ETF on April 9, teaming up with the corporate arm of the Dogecoin Foundation, known as House of Doge, to advance the fund’s visibility. The proposed ETF is structured as a passive trust that holds actual DOGE tokens, aiming to mirror a benchmark index reflecting the price of this popular meme coin. Through a partnership with Coinbase Custody Trust, which serves as the custodian for the DOGE assets, the fund aims to appeal to both institutional and retail investors seeking legitimacy in crypto investments.
Intensifying Competition in the Dogecoin ETF Market
The examination of the Dogecoin ETF comes at a pivotal moment as the SEC’s views on cryptocurrency offerings evolve. Under the guidance of SEC Chair Paul Atkins, the organization is exhibiting a more accommodating stance towards digital asset investments. This administration has been perceived as significantly more crypto-friendly than prior ones, evidenced by the dismissal of certain cases against crypto firms and open discussions with industry players on regulatory frameworks. Such a favorable regulatory atmosphere enhances the prospects for the DOGE ETF, possibilities that seemed unlikely a couple of years ago.
In addition to the efforts of 21Shares, multiple asset management firms are also vying to introduce Dogecoin ETFs in the U.S. Bitwise Asset Management submitted its own application for a spot Dogecoin ETF on January 28, 2025, with plans to have it listed on NYSE Arca. Meanwhile, REX Shares, in collaboration with Osprey Funds, has also moved forward with a Dogecoin ETF filing in January 2025, incorporating other memecoins like the $TRUMP token and BONK into its proposal.
As of mid-May 2025, the SEC is meticulously reviewing DOGE ETF applications from 21Shares, Bitwise, Grayscale, and the REX-Osprey alliance. Industry analysts currently estimate approval odds ranging from 63% to 75% for these ETFs within the present year, showcasing a landscape brimming with possibilities.
