- 21Shares launched the first physically backed Dogecoin ETP on Switzerland’s SIX Exchange, endorsed by the Dogecoin Foundation and trading under the ticker DOGE.
- The ETP is fully backed by DOGE held in custody, carries a 2.5% management fee, and is regulated under European financial frameworks.
- While approval odds for a US Dogecoin ETF remain mixed, DOGE’s cultural relevance and strong trading volume continue to attract institutional interest.
The meme coin that started as a joke in 2013 just scored its most serious institutional endorsement yet. On Wednesday, 21Shares announced the launch of a physically backed Dogecoin exchange-traded product on Switzerland’s SIX Swiss Exchange.
It’s not just 21Shares. Other firms like Bitwise and Grayscale have also signaled interest in bringing Dogecoin to the ETF stage, though 21Shares appears to be the first to throw its hat in the ring formally.
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Dogecoin ETP
The company has already made moves outside the US —it launched a fully backed Dogecoin ETP on the SIX Swiss Exchange under the ticker DOGE, in partnership with none other than the House of Doge Inc., the corporate arm of the Dogecoin Foundation.
That same entity is expected to play a key role in the fund’s strategy, marketing, and operational support. 21Shares president Duncan Moir said about the partnership:
With this exclusive partnership, we’re providing investors with the most direct and accessible way to gain exposure to the Dogecoin ecosystem. Dogecoin has become more than a cryptocurrency: it represents a cultural and financial movement.
Duncan Moir, 21SharesEach unit of the ETP is fully backed by actual DOGE held in custody, and it comes with a 2.5% management fee. Like other crypto ETPs in Europe, the product trades on traditional stock exchanges and is regulated under local financial frameworks.
What are the Odds?
The chances of approval of a US-based fund are quite mixed. Prediction platform Polymarket currently puts the chances of a spot Dogecoin ETF getting the green light at less than 30%. But Bloomberg ETF analysts Eric Balchunas and James Seyffart were even more optimistic earlier this year, projecting a 75% chance of approval by 2025.
Anyway, why Dogecoin? Well, objectively, this is an already-established project that still moves markets. Despite being the original joke coin, DOGE remains one of the most traded assets in crypto and has survived multiple cycles better than many so-called serious projects.
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