21Shares Dogecoin ETF Set To Launch This Week as Crypto ETF Issuer Gains Approval

21Shares has announced its spot Dogecoin ETF launch with the U.S. Securities and Exchange Commission (SEC). It follows auto-effective approval to list under the ticker ‘TDOG’ on Nasdaq. The 21Shares Dogecoin ETF will join Grayscale’s GDOG and Bitwise’s BWOW this week, driving further upside momentum in DOGE price.

21Shares Files to Launch its Dogecoin ETF

21Shares submitted its final prospectus to launch its Dogecoin ETF, according to a 424B3 filing to the US SEC. This clears the 21Shares Dogecoin ETF to advance toward its expected launch this week.

The Dogecoin ETF gained approval to list on Nasdaq under ticker TDOG, paving the way for trading to begin. This marks the third spot Dogecoin ETF to launch, following the Grayscale Dogecoin ETF (GDOG) and Bitwise Dogecoin ETF (BWOW) debuts in November.

21Shares has set a management fee of 0.50%, with the fee to accrue daily and payable in DOGE weekly in arrears. Notably, the issuer has not disclosed any fee waiver.

The issuer will offer regulated exposure to Dogecoin, tracking spot DOGE price based on the CF Dogecoin-Dollar US Settlement Price Index.

The issuer reveals The Bank of New York Mellon as administrator, cash custodian and transfer agent. Also, Coinbase Custody Trust, Anchorage Digital Bank, and BitGo will serve as custodians.

It is worth noting that the Bitwise and Grayscale DOGE ETFs have seen moderate interest from institutional investors so far. SoSoValue data shows that these funds have total net assets of $10.16 million, which is just 0.04% of the meme coin’s total market cap.

DOGE Price Jumps

DOGE price jumped more than 1% over the last 24 hours, currently trading at $0.140. The 24-hour low and high were $0.135 and $0.142, respectively. Furthermore, trading volume has increased by 111% over the last 24 hours, indicating massive interest among traders.

According to DOGE analysis by CoinGape, Dogecoin price could hit $0.20 in the coming days amid renewed whale accumulation. In the daily timeframe, the price is holding above the 50-MA at $0.138. The Relative Strength Index (RSI) is at 52.96, moving sideways in the last 24 hours amid tepid Dogecoin ETF inflows.

CoinGlass data showed mixed sentiment in the derivatives market. At the time of writing, the total DOGE futures open interest jumped 0.01% to $1.80 billion in the last 4 hours. DOGE futures OI on Binance and OKX climbed more than 0.05% and 4.20%, while dropping 1% on Bybit and almost 3% on Gate.