21Shares launches SEC-approved Dogecoin ETF on Nasdaq

21Shares launched the first SEC-approved spot Dogecoin ETF on Nasdaq, backed by the Dogecoin Foundation. The ETF targets mainstream investors, but DOGE's price stayed stable.

21Shares has introduced a spot Dogecoin ETF on Nasdaq under the ticker TDOG, marking the first U.S.-approved spot Dogecoin ETF. This launch comes with the endorsement of the Dogecoin Foundation and formal approval from the SEC, targeting both retail and institutional investors. The ETF allows exposure to Dogecoin without the need for crypto wallets or exchanges, and is fully backed by Dogecoin held in institutional-grade custody. This development is considered a significant step toward mainstream adoption of the meme coin. While other spot DOGE ETFs from Bitwise and Grayscale have previously launched, the 21Shares ETF is the first to receive both official backing from the Dogecoin Foundation and explicit SEC approval. Despite the launch, Dogecoin's price remained stable, and some skepticism persists regarding the ETF's official status, as not all sources confirm SEC approval. Nonetheless, the move is viewed as a milestone for digital asset adoption and could pave the way for more cryptocurrency ETFs.