What to know:
- 21Shares, in a move that can only be described as “boldly barking up the meme tree,” has filed to introduce a spot Dogecoin (DOGE) ETF in the U.S., joining Bitwise and Grayscale in this canine caper.
- Not content with just filing paperwork, the asset manager has partnered with the House of Doge — the Dogecoin Foundation’s corporate arm — because, of course, a meme coin needs a corporate arm. 🐾
Ah, the race to introduce a spot Dogecoin ETF (DOGE) to the U.S. market! What a spectacle! Three crypto-focused asset managers — Bitwise, Grayscale, and now 21Shares — are vying for the honor of bringing this meme coin to the masses. Truly, the financial world has never seen such a display of… well, let’s call it “creative ambition.”
The Switzerland-based crypto asset manager, 21Shares, submitted an initial S-1 filing with the U.S. Securities and Exchange Commission on Thursday. Because nothing says “serious financial innovation” like a cryptocurrency that started as a joke. 😅
The fund would be custodied by 21Shares and Coinbase. The management fee, the ticker, and the stock exchange that will list the fund remain shrouded in mystery. Whichever exchange it ends up being will have to file a 19b-4 document with the SEC, because bureaucracy loves a good paper trail. 📜
As part of the filing, 21Shares entered into a partnership with the Dogecoin Foundation’s corporate arm, House of Doge. Yes, the House of Doge. Because every meme coin needs a corporate arm to help market the fund. 🏰🐕
If a DOGE ETF is approved, it would become the first ETF tracking a meme coin — a crypto asset that was created as a joke. But DOGE has long evolved into more than that, inspiring the name of the government’s latest initiative, the Department of Government Efficiency (DOGE), which is led by none other than Elon Musk. Because why not? 🤷♂️
DOGE is currently the 9th largest cryptocurrency by market cap at $23 billion. Not bad for a coin that started as a Shiba Inu meme. 🐶💰
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2025-04-10 18:23