TLDR:
- 21Shares receives SEC green light to launch its Dogecoin ETF under the ticker TDOG.
- The fund features a 0.50% management fee and multi-custody for enhanced security.
- DOGE trading volume surged 152% following the regulatory announcement.
At the start of the week, 21Shares received official authorization to launch its own spot Dogecoin ETF, which will operate under the ticker TDOG.
After filing its final prospectus with the Securities and Exchange Commission (SEC), the firm joins giants like Grayscale and Bitwise in offering financial instruments that allow institutional and retail investors to gain exposure to the popular memecoin without the need to manage private keys.
Despite the relevance of the news, the asset’s price showed resilience and stability, trading near $0.1366.
However, the impact was clearly reflected in network activity: Dogecoin’s trading volume experienced a massive 152.09% increase in the 24 hours following the announcement, reaching $1.22 billion.
This surge suggests that the Dogecoin ETF is catalyzing a renewed interest that transcends simple price fluctuations.
Financial Structure and Security of the New TDOG Fund
The 21Shares Dogecoin ETF will use the CF Dogecoin Dollar US Settlement Price index to accurately reflect the asset’s value. The fund has set a competitive management fee of 0.50%, settled weekly in DOGE tokens.
Unlike other products on the market, 21Shares chose a multi-custody approach, distributing digital asset responsibility among Coinbase Custody Trust, Anchorage Digital Bank, and BitGo to mitigate counterparty risks.
Furthermore, the Bank of New York Mellon will act as administrator and cash custodian, ensuring that the Dogecoin ETF meets the most demanding operational standards.
This structure not only simplifies access through traditional brokerage accounts but also facilitates tax reporting using standard 1099 forms.
In summary, with this launch, the cryptocurrency market reaffirms its integration into traditional finance, positioning Dogecoin as an asset with world-class institutional infrastructure.
