21Shares has filed for a Dogecoin ETF, confirming growing institutional interest in cryptocurrencies.
21Shares' Filing for Dogecoin ETF
21Shares, a cryptocurrency product provider, has filed with the SEC to create an ETF tracking Dogecoin prices. The effort is supported by House of Doge, the corporate arm of the Dogecoin Foundation, providing marketing assistance. Coinbase Custody has been chosen as the proposed custodian for the ETF's Dogecoin assets.
Market Response to the News
The market responded with optimism, seeing a surge in Dogecoin's price by 8-12% following the ETF filing. The buzz on social media highlights expectations for institutional legitimacy and potential broader adoption of cryptocurrencies. Analysts anticipate further altcoin ETF filings if the SEC approves 21Shares' application.
Historical Perspective on Altcoin ETFs
The filing for a Dogecoin ETF follows previous attempts by Grayscale and Bitwise. As of April 10, 2025, CoinMarketCap data shows Dogecoin priced at $0.16 with a market capitalization of $23.18 billion. Despite a drop of over 53% in the last 90 days, Dogecoin remains a popular trading option, showing a trading volume of $2 billion in 24 hours.
The 21Shares filing for a Dogecoin ETF could set the stage for a new era of regulated cryptocurrency products and offer new opportunities for altcoins in the financial market.
