Dogecoin Foundation-Backed 21Shares DOGE ETF Launches on Nasdaq
A spot Dogecoin ETF, backed by the Dogecoin Foundation and issued by 21Shares, began trading on Nasdaq under the ticker TDOG, marking the Foundation’s official entry into Wall Street. This ETF allows retail and institutional investors to gain exposure to Dogecoin, the first meme coin, without needing crypto exchanges or self-hosted wallets. It is the first such fund to receive both the Foundation’s endorsement and explicit SEC approval; earlier offerings from Grayscale and Bitwise launched earlier without direct agency approval. SEC approval also signals the agency does not classify Dogecoin as a security. The ETF targets younger, affluent traders interested in diversified portfolios through traditional brokers. The launch aligns with broader ambitions to transform Dogecoin from a meme token into a global payment mechanism, a strategy now embraced by both the Dogecoin Foundation’s corporate arm and 21Shares. Despite some skepticism, organizers view the ETF’s novelty and Dogecoin’s massive community as distinctive advantages.
