The U.S.-based investment firm 21Shares has officially applied to the Securities and Exchange Commission (SEC) to launch a spot ETF that tracks the price of Dogecoin 
$0.094132. This application follows similar requests from companies like Bitwise and Grayscale, aiming to create dogecoin-focused ETFs. For the spot Dogecoin ETF, Coinbase Custody will oversee the fund’s custody services; however, details such as the exchange where the ETF will be listed, its ticker symbol, and service fees have yet to be clarified. The submission of the necessary “Form 19b-4” is also required for SEC approval. Currently, the application appears to be in its early stages.
High Market Expectations for Spot Dogecoin ETF
In recent months, the cryptocurrency sector has seen a surge in ETF applications. Following the approval of Bitcoin 
$75,226 and Ethereum 
$2,315 ETFs, numerous altcoins have also submitted applications to the SEC. Bloomberg ETF analyst James Seyffart noted that companies are employing a “spaghetti tactic” to see which products the new SEC administration might approve.
Seyffart estimates that the probability of the Dogecoin ETF receiving SEC approval is around 75%, while the betting platform Polymarket predicts the likelihood at 64%.
Currently, Dogecoin ranks as the eighth-largest cryptocurrency globally, boasting a market capitalization of approximately $24.2 billion. Originally created as a joke, this cryptocurrency was derived from Bitcoin’s sidechain, Lucky Coin. Dogecoin has garnered significant investor interest, influenced by popular culture and financial ventures.
21Shares Previously Launched Dogecoin Investment Product in Europe
Additionally, 21Shares is working to amplify Dogecoin’s presence in European markets. The company recently collaborated with the House of Doge, the corporate arm of the Dogecoin Foundation, to launch a fully supported Dogecoin exchange-traded product on Switzerland’s SIX exchange. This product, trading under the ticker “DOGE,” is offered to investors with an annual management fee of 2.5%.
Duncan Moir, president of 21Shares, emphasized that Dogecoin is not just a cryptocurrency; it has become a symbol of a cultural and financial movement. Moir is confident in Dogecoin’s potential, aiming to provide investors with a regulated investment option.
