Wall Street's enthusiasm for the new Dogecoin ETF product is limited

Odaily Planet Daily reports that cryptocurrency asset management firm 21Shares has launched a new Dogecoin (DOGE) ETF, further pushing this meme coin into the traditional financial system. The ETF was listed and traded on Nasdaq on Thursday under the ticker TDOG.

21Shares stated that this is the latest addition to its crypto ETF product line, which previously included ETFs related to Bitcoin, Ethereum, Solana, and XRP. The company also emphasized that it is the only ETF issuer endorsed by the House of Doge, an institution under the Dogecoin Foundation.

Nevertheless, overall market demand for meme coin ETFs remains restrained. Data shows that the first Dogecoin ETF in the US was launched in September last year, with a total trading volume of approximately $200 million to date, indicating that Wall Street’s interest in meme coins remains limited.

21Shares said that TDOG aims to provide investors with a compliant, physically-backed DOGE investment channel, lowering the participation threshold through the ETF format; the Dogecoin Foundation also stated that this product helps promote further adoption of Dogecoin within mature financial structures.