Nasdaq has officially submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to launch the first spot Dogecoin exchange-traded fund (ETF). If approved, this ETF—managed by Swiss asset manager 21Shares—will offer institutional and retail investors exposure to Dogecoin (DOGE) without the need to directly own or store the asset.
As of now, Dogecoin ranks among the top 10 cryptocurrencies by market capitalisation, with a market cap of $26.17 billion and a current price of $0.1755, according to CoinMarketCap.
What Is the Dogecoin ETF?
To initiate the regulatory process, 21Shares submitted an S-1 registration form, while Nasdaq filed a Form 19b-4 with the SEC. This proposed ETF will directly hold physical Dogecoin rather than relying on futures contracts or synthetic instruments. Investors will gain exposure to the meme coin through traditional financial systems.
The ETF will trade in blocks of 10,000 shares and only allow cash transactions. There will be no borrowing or leverage involved, ensuring a transparent and straightforward structure for participants.
How Will Nasdaq Ensure Security and Compliance?
Nasdaq has pledged to manage the ETF within its standard trading framework, enhanced by advanced surveillance protocols. As a member of the Intermarket Surveillance Group (ISG), Nasdaq will monitor for suspicious or manipulative trading activity. These safeguards are crucial for maintaining investor confidence and ensuring regulatory integrity.
The exchange emphasised that its robust monitoring systems can track DOGE trading activity across markets, reducing the risk of price manipulation or insider behaviour.
The House of Doge Partnership Powers Awareness
A marketing collaboration between 21Shares and the House of Doge, a strategic partner of the Dogecoin Foundation, supports the ETF rollout. This alliance aims to enhance investor awareness through targeted campaigns targeting both retail and institutional investors.
21Shares already operates a Dogecoin-focused investment product in Europe and plans to use this experience to help position the ETF successfully in the U.S. market.
Read Also: U.S. Senate Set to Vote on Stablecoin Legislation This May
2025: A Pivotal Year for Crypto ETFs
The Dogecoin ETF proposal comes at a time when several asset managers are racing to launch crypto ETFs. Industry giants like Grayscale, Fidelity, Bitwise, and Franklin Templeton have filed for ETFs covering assets such as Solana (SOL), Litecoin (LTC), XRP, and even meme-themed tokens inspired by former President Donald Trump.
This surge of filings signals growing mainstream demand for regulated investment vehicles tied to digital assets.
What Happens Next?
The SEC has not yet approved the Dogecoin ETF. The agency extended its review period, scheduling a final decision for June 15, 2025. Just two days later, the commission will review a similar proposal for an XRP ETF.
If the SEC gives its approval, this will mark a significant milestone for meme coin adoption. The ETF would provide a regulated and secure way for investors to access DOGE, eliminating barriers such as technical expertise and custody concerns.
Final Thoughts
Dogecoin’s transformation from a meme-based internet joke to a serious financial asset continues to unfold. Nasdaq and 21Shares are betting that this ETF will attract a wave of interest by bridging the gap between crypto and conventional finance. All eyes now turn to the SEC as the crypto community awaits its final ruling.
