21Shares files for Dogecoin ETF

After Grayscale and Bitwise, asset manager 21Shares takes the plunge: the company has filed an application with the US SEC for a Dogecoin ETF.

Like Grayscale and Bitwise, asset manager 21Shares is taking the plunge too: the company has filed an application with the U.S. Securities and Exchange Commission for a Dogecoin ETF. That would make 21Shares the third party pushing for a regulated investment vehicle in the world’s most popular memecoin.

If any of these filings is approved, it would be the first memecoin ETF listed in the U.S. that retail and institutional investors could access through regulated channels—a move many hodlers hope will give the price a solid boost.

Grayscale was the first to file in February 2025. It has since been formally taken up by the SEC. The initial decision window is October 2025, but the approval process can take up to 240 days and may be delayed multiple times. In the past, approvals for Bitcoin and Ethereum ETFs took years.

Since the departure of SEC Chairman Gary Gensler, filings for altcoin ETFs have surged. In addition to Dogecoin, proposals have come in for Solana, XRP, and Litecoin. The odds of approval right now look higher than ever.

Dogecoin, the first memecoin, started in 2013 as a joke but grew into a serious crypto phenomenon. Like Bitcoin, Dogecoin runs on a proof-of-work mechanism.

One of the most vocal fans is Tesla CEO Elon Musk, who calls himself the “Dogefather.” He has repeatedly voiced support for the coin and recently suggested—in March—that it could be possible to pay Teslas with Dogecoin in the future. He also gave a nod to the coin by naming a government project under his leadership DOGE, short for Department of Government Efficiency.

The crypto community is watching the SEC decision closely. Will Dogecoin soon be a full-fledged player on Wall Street?