21Shares Launches First US Spot Dogecoin ETF

21Shares launched the first spot exchange-traded fund backed by Dogecoin in the United States on January 22, marking a significant step toward integrating the meme coin into traditional financial markets. The TDOG ETF, which began trading on Nasdaq, provides investors with direct exposure to Dogecoin through a physically backed structure holding the cryptocurrency on a one-to-one basis. Despite the development, Dogecoin's price continued to test key support levels around 0.12, reflecting ongoing market pressures.

The ETF, developed in collaboration with the House of Doge, Dogecoin's unofficial corporate entity, eliminates the need for individual investors to manage cryptocurrency wallets or navigate digital exchanges. It features institutional-grade custody and a 0.50 percent management fee, accrued daily and settled weekly. This launch follows 21Shares' earlier introductions of Dogecoin-related products, including a leveraged ETF and an exchange-traded product in the United States and Europe. The firm described the move as part of its strategy to broaden access to digital assets via regulated vehicles, noting Dogecoin's enduring cultural relevance and expanding utility in...