21Shares has filed its sixth amendment to the Form S-1 for its proposed Dogecoin ETF, maintaining a 0.5% management fee and aiming to list on Nasdaq under the TDOG ticker. Coinbase will serve as custodian for the trust’s digital assets, and the issuer plans to purchase $1.5 million worth of Dogecoin when trading begins. The company has not disclosed any fee-waiver strategy to attract investors, to compete with rivals Grayscale and Bitwise, both of which already operate Dogecoin ETFs. The filing includes a standard provision stating that the fund cannot commence operations until either another amendment becomes effective under the Securities Act or the SEC declares the registration effective, a routine checkpoint for ETF launches.
Market demand for Dogecoin ETFs remains weak. The asset manager has already rolled out Solana and XRP ETFs this year, and since their late November debut the DOGE ETFs have seen limited inflows, with eight consecutive days of zero net inflows and a combined total of about $2.05 million across Grayscale and Bitwise, while Grayscale’s DOGE ETF has roughly $3.03 million in inflows and Bitwise has posted net outflows near $1 million.
The meme cryptocurrency has declined more than 6% over the past month, a period roughly coinciding with the ETF launches. Year-to-date performance shows even steeper losses, with DOGE down over 58%. At the time of writing, DOGE trades at around $0.1300, down 2.61% in the last 24 hours.
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