Nasdaq files to list 21Shares Dogecoin ETF, signaling mainstream crypto acceptance

Nasdaq has filed a 19b-4 form with the US Securities and Exchange Commission (SEC) to support the listing of a new 21Shares Spot Dogecoin (DOGE) Exchange-Traded Fund (ETF), according to an April 29 filing.

The proposed fund would offer investors passive exposure to Dogecoin’s price without engaging in speculative trading activities like leverage, derivatives, or other financial arrangements.

According to the filing:

“The Trust provides investors with the opportunity to indirectly access the market for Dogecoin through a traditional brokerage account without the potential barriers to entry or risks involved with holding or transferring Dogecoin directly or acquiring it from a Dogecoin spot market.”

Coinbase would serve as the custodian of the 21Shares DOGE ETF assets, while the CF DOGE-Dollar US Settlement Price Index would provide the pricing benchmark.

The exchange emphasized its ability to monitor trading activity and prevent manipulation, citing its membership in the Intermarket Surveillance Group (ISG).

According to the firm, its presence in this group will allow it access to real-time information sharing with other regulated markets, including Coinbase Derivatives.

It added:

“The surveillance program includes real-time patterns for price and volume movements and post-trade surveillance patterns (e.g., spoofing, marking the close, pinging, phishing).”

Meanwhile, the ETF proposal marks a significant step forward for Dogecoin, which began as a joke in 2013 but has since evolved into a serious digital asset. Today, Dogecoin ranks as the eighth-largest digital asset, with a market cap of around $26.5 billion.

Notably, 21Shares is not alone in seeking approval for a Dogecoin-focused product. Grayscale and Bitwise have also filed applications for similar spot Dogecoin ETFs.

This wave of filings signals growing industry confidence that the SEC may soon open the door to a broader range of crypto investment options beyond Bitcoin and Ethereum.

Despite this, crypto bettors on the decentralized prediction platform Polymarket believe there is only a 59% chance that the SEC will approve a Dogecoin ETF before the end of the year.

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