The possibility of a Dogecoin ETF (exchange-traded fund) in the US is looking more likely than ever. This is thanks to a big move by the Securities and Exchange Commission (SEC).
SEC Greenlights Dogecoin ETF Review
The SEC has officially acknowledged 21Shares’ application for a Dogecoin ETF. This starts the official review process. The SEC also confirmed receiving Nasdaq’s request to list the ETF. This doesn’t mean approval, but it kicks off a review period—potentially up to 240 days—before a final decision. The absolute deadline, if all extensions are used, is January 9, 2026. But this acknowledgment gives us a timeline and shows the SEC is seriously considering a Dogecoin ETF.
About the 21Shares Application
21Shares, a Swiss asset manager, filed its application on April 9th, 2025. They teamed up with the Dogecoin Foundation’s House of Doge to promote the fund. The ETF would passively hold actual Dogecoin (DOGE), tracking its price. It won’t use leverage or derivatives. Coinbase Custody Trust will safeguard the DOGE, likely aiming for both institutional and retail investors.
A Changing Regulatory Landscape
This Dogecoin ETF review comes at a time when the SEC’s stance on crypto is softening. Under Chair Paul Atkins, the SEC seems more open to crypto investments. The current administration is considered more crypto-friendly, and the SEC has dropped some cases against crypto companies and is talking more with industry players. This makes the chances of a Dogecoin ETF approval much higher than before.
The Dogecoin ETF Race is On
21Shares isn’t alone. Several firms have applied for Dogecoin ETFs:
- Bitwise Asset Management: Filed in January 2025, with NYSE Arca as the proposed listing exchange.
- REX Shares (with Osprey Funds): Filed in January 2025, alongside ETFs for other memecoins.
As of mid-May 2025, the SEC is reviewing applications from 21Shares, Bitwise, Grayscale, and the REX-Osprey partnership. Experts predict a 63% to 75% chance of approval for these ETFs this year.