21Shares Pushes Ahead With New Dogecoin ETF Filing

Crypto asset manager 21Shares has once again filed an amended registration statement with U.S. regulators. The company reaffirmed its plan to launch a Dogecoin exchange-traded fund (ETF)

21Shares made this decision even as existing DOGE ETFs struggle to attract investor interest. This development shows a continued commitment to the product despite poor fund flows and falling Dogecoin prices.

21Shares Moves Ahead With Dogecoin ETF Plans

The new filing, submitted to the SEC, confirmed that 21Shares has submitted a sixth amendment to its Form S-1 for the proposed Dogecoin ETF, initially submitted in April. This latest filing does not change the core structure of the fund

Instead, it reinforces earlier disclosures and shows that the firm is still working through the regulatory process ahead of a potential launch.

Earlier this month, 21Shares updated the S-1 to include key details such as a 0.5% management fee. The new amendment keeps this fee unchanged. This move suggests that the asset manager is confident in its pricing strategy even as competition grows.

As previously stated, 21Shares still plans to list the Dogecoin ETF on the Nasdaq under the ticker symbol TDOG. Coinbase, one of the largest crypto exchanges in the world, will act as custodian for the fund’s assets

Dogecoin ETFs Struggle as 21Shares Prepares to Enter the Market

21Shares said the Dogecoin ETF will not become effective right away. It will only move forward after the company files another amendment or the SEC formally approves the registration under Section 8(a) of the Securities Act of 1933.

While 21Shares has successfully launched XRP ETFs and spot Solana this year, the DOGE ETF remains pending. If approved, the Dogecoin ETF would become the fifth crypto asset for which 21Shares offers full spot exposure.

Furthermore, 21Shares also intends to purchase $1.5 million worth of DOGE once the ETF begins trading. Notably, the filing does not include any fee waiver. This puts 21Shares in direct competition with existing Dogecoin ETFs from Grayscale and Bitwise. Sadly, both rivals are already struggling with weak investor demand

Dogecoin Price Remains Under Pressure

Market data shows that Dogecoin ETFs have performed poorly since their launch in late November. According to SoSo Value, these funds have recorded 8 straight days of no net flows since December 11

Out of 20 trading days, they have only seen inflows on 5 occasions. Combined, the Grayscale and Bitwise Dogecoin ETFs have attracted just $2.05 million in total since launch

Grayscale leads with $3.03 million in net inflows, while Bitwise has seen nearly $1 million in net outflows. Daily trading volumes for both funds also remain below $1 million.

Dogecoin’s price has also declined alongside the weak ETF performance. The dog-themed memecoin has fallen more than 6% over the past month and is down over 58% on a year-to-date basis. This ongoing price drop has further reduced investor interest in DOGE-linked investment products.

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