21Shares has announced critical updates for its Dogecoin 
$0.084548 ETF in its fifth amendment submitted to the U.S. Securities and Exchange Commission (SEC). The ETF, expected to trade on Nasdaq under the ticker TDOG, coincides with similar launches by Grayscale and Bitwise, propelling Dogecoin’s price upwards by over 11%.
Fee and Custody Insights for 21Shares Dogecoin ETF
According to the official file presented to the SEC, 21Shares set the management fee for the Dogecoin ETF at 0.50%. This fee will accumulate daily and be paid in Dogecoin weekly. While no fee waiver has been disclosed yet, 21Shares is expected to clarify this aspect before the launch. The application maintains a “delaying amendment” clause to proceed under section 8(a).
The file details reveal that Bank of New York Mellon will serve as the ETF’s administrator, cash custodian, and transfer agent. Additional custodians include Anchorage Digital Bank and BitGo. Wilmington Trust NA will act as the trustee, Foreside Global Services as the marketing agent, and Cohen & Company as the auditing firm. 21Shares US LLC will manage the ETF, which plans to enter the market with an initial capital of $1.5 million to purchase DOGE coins.
Significant Price Surge in DOGE Coin
Following the ETF announcement, DOGE coin witnessed a 11.4% increase in the last 24 hours, reaching $0.15. The daily trading volume rose by 32%, reflecting renewed investor interest. Though the price remained below the 50 and 200-day moving averages, breaking above the trend line supported the bullish outlook. The Relative Strength Index (RSI) climbed to 45.19, indicating further upward potential.
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CoinGlass data shows that open positions in Dogecoin futures rose by 8% to $1.5 billion in the past 24 hours. Open interest rates also increased by 1.5% on Binance, 1.64% on OKX, and 1.26% on Bybit, painting an optimistic picture for derivatives in the market. Moreover, TDOG is expected to start trading alongside Grayscale’s GDOG and Bitwise’s BWOW ETFs this month, potentially boosting institutional interest in DOGE.
