The folks advocating for a particular cryptocurrency are teaming up with a crypto-focused ETP shop worldwide, and that ETP shop is prepping a new fund in the USA. Yet many questions remain about the planned exchange-traded product.

Duncan Moir 21Shares AG President

On Tuesday (April 9), Duncan Moir, president of 21Shares AG, and Jens Wiechers, co-executive director of the Dogecoin Foundation and advisory board member at House of Doge (the foundation's official corporate arm), unveiled an exclusive global partnership between House of Doge and 21Shares, for the latter to launch the only Dogecoin ETPs with the foundation's official endorsement. Also on Tuesday, in line with that new partnership, the 21Shares team filed to launch the 21Shares Dogecoin ETF in the U.S.

Stay tuned for more details on the planned Dogecoin ETP. The filing does not reveal the planned expense ratio (aka "sponsor fee"), launch date, or ticker, nor does it identify several of the ETP's providers, including:

its administrator;

its cash custodian;

its primary listing exchange;

its independent accounting firm;

its marketing agent; and

its transfer agent.

The 21Shares Dogecoin ETF will be a '33 Act ETP and Maryland statorty trust, not a '40 Act ETF and investment company. New York City-based 21Shares US, LLC (a subsidiary of 21co Holdings Limited, fka Amun Holdings Limited) will serve as the ETP's sponsor and trustee.

Moir highlights "Dogecoin's growing adoption" and "significance in the crypto ecosystem." (The move comes after 21Shares launched one of the inaugural spot bitcoin ETPs and one of the inaugural spot ether ETPs, both in 2024.)

"By partnering with the House of Doge, we are taking a pivotal step in bringing transparent and institutional-grade investment options to the market," Moir states. "This move reflects our commitment to expanding investor access to innovative and community-driven assets while maintaining the highest regulatory and operational standards."

Wiechers calls the 21Shares partnership "a very large step forward for the Dogecoin vision."

"For Dogecoin to reach its full potential as a global currency, institutional support and corporate partnerships are essential. This initiative with 21Shares provides a regulated path for institutions to participate in and amplify the 'Dogecoin is Money' vision, while still honoring the community's spirit," Wiechers states. "Global adoption is critical, and we're excited to take this next step — ensuring Dogecoin stays fun, but gains the credibility and backing needed to thrive at scale."

The 21Shares Dogecoin ETF will be designed to track the performance of the Dogecoin cryptocurrency by looking to the CF DOGE-Dollar US Settlement Price Index as pricing benchmark. (No, CryptoBros is not involved.) The planned ETP's other providers will include:

CF Benchmarks Ltd. as benchmark provider;

Coinbase Custody Trust Company, LLC as Dogecoin custodian;

Dechert LLP as counsel; and

House of Doge Inc. as service provider (providing "launch, listing marketing, intellectual property and, as needed, operational support to Trust").

 

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