21Shares Moves Forward with TDOG ETF Despite DOGE Fund Stagnation

Crypto asset manager 21Shares has filed a sixth amendment to its S-1 registration statement with the U.S. Securities and Exchange Commission for its proposed Dogecoin ETF. The filing confirms the firm’s continued intention to launch the fund, which will be listed on Nasdaq under the ticker “TDOG.”

The latest filing retains the previously disclosed 0.5% management fee. Coinbase is listed as the custodian for the fund’s Dogecoin holdings. 21Shares does not include any fee waiver in this update. The firm also reiterated its plan to purchase $1.5 million worth of DOGE when the ETF lists.

No effective date yet as firm awaits SEC clearance

The amended registration notes that the fund will not become effective until another amendment is filed or the SEC declares the registration effective, as outlined under Section 8(a) of the Securities Act of 1933. This is consistent with the launch process of other crypto ETFs recently introduced by the firm.

The asset manager, which has already launched ETFs providing spot exposure to Solana and XRP, continues to expand its crypto product lineup. The Dogecoin ETF, if approved, would become the fifth fund by the firm offering direct exposure to a single digital asset.

Meanwhile, Dogecoin ETFs currently trading on the market continue to see low activity. According to SoSo Value data, the Grayscale and Bitwise DOGE ETFs have recorded zero net inflows for eight consecutive trading days, dating back to December 11.

Combined, both funds have attracted only $2.05 million since launching in late November. Grayscale’s ETF currently reports a total net inflow of $3.03 million, while Bitwise has seen net outflows nearing $1 million. Daily trading volumes remain under $1 million, showing limited engagement.

Dogecoin’s price has declined over six percent since the ETFs launched and has dropped more than 58 percent year-to-date. The weak ETF performance appears to reflect the subdued market sentiment surrounding the meme coin.