21Shares Files for Dogecoin Spot ETF

In a fresh move highlighting crypto’s rising momentum in traditional finance, 21Shares has set its sights on launching a Dogecoin-backed exchange-traded fund (ETF) in the United States.

Nasdaq recently submitted a proposal to list the fund, formally initiating the regulatory review process.

The new filing marks the second key regulatory step after 21Shares’ initial S-1 submission earlier this month. Alongside the paperwork, 21Shares announced a unique collaboration with the House of Doge, a group affiliated with the Dogecoin Foundation, to support its planned product launches.

The submission arrives during a notable change in Washington’s crypto policy landscape. The SEC, now chaired by Paul Atkins following his April 21 appointment under President Donald Trump, is signaling a friendlier approach to digital assets. Atkins, openly critical of the SEC’s previous stance under Gary Gensler, has vowed to encourage innovation and end what he described as a climate of regulatory uncertainty.

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Other asset managers are racing into the same space. Grayscale, Bitwise, and REX Shares have also filed proposals for Dogecoin ETFs, riding the wave of optimism that the Trump administration could fast-track approvals.

The SEC now faces a backlog of altcoin ETF applications. Bloomberg’s February estimates placed Litecoin ETFs at the top of likely approvals (90%), with Dogecoin funds following closely at 75%. Solana and XRP products are also strong contenders with 70% and 65% chances, respectively.

This surge of activity builds on the SEC’s earlier decisions to approve spot Bitcoin ETFs in January 2024 and Ethereum ETFs later that July — developments that firmly opened the door for a broader range of crypto assets to enter U.S. markets through regulated investment vehicles.

If momentum continues, Dogecoin could soon become one of the next digital currencies to make the leap into the mainstream investing world.

Alexander Stefanov