The US crypto market has welcomed a brand new entrant as 21Shares rolls out its Spot Dogecoin ETF, giving buyers one other avenue to interact with the notorious dog-themed meme coin. Buying and selling kicked off amid a mixture of curiosity and warning, with on-chain knowledge already displaying how a lot the DOGE ETF has carried out up to now.
21Shares Launches Dogecoin ETF
In a press launch on Thursday, January 22, 21Shares introduced the official launch of its Spot Dogecoin ETF, TDOG, which started buying and selling on NASDAQ the identical day. The brand new ETF gives buyers with direct publicity to Dogecoin by means of a totally backed, regulated, and clear car. Every ETF share can also be backed 1:1 by DOGE held in institutional-grade custody.
Notably, the launch of the brand new TDOG ETF brings the full variety of US Dogecoin ETFs to 3, becoming a member of Grayscale’s GDOG and Bitwise’s BWOW. 21Shares can also be the one ETF supplier endorsed by Home of Doge, the official company arm of the Dogecoin basis, highlighting the worldwide asset supervisor’s shut ties to the meme coin.
As one of many largest crypto ETF issuers, 21Shares continues to develop its crypto product lineup with the introduction of TDOG. This follows the funding firm’s earlier ETF choices, together with TSOL, a Solana ETF launched in November 2025; ARKB, a Spot Bitcoin ETF launched in January 2024; and TETH, an Ethereum ETF launched in July of the identical yr. Collectively, these merchandise exhibit 21Shares’ dedication to offering institutional-grade entry to high-demand digital belongings.
Federick Brokate, International Head of Enterprise Improvement at 21Shares, highlighted DOGE’s giant and lively international group, calling it a novel digital asset with consistently rising use circumstances. He added that the brand new TDOG ETF will give buyers regulated, bodily backed publicity by means of a well-recognized ETF construction they know and belief.
Marco Margiotta, the CEO of Home of Doge, additionally shared feedback on the lately launched 21Shares ETF. He mentioned that TDOG is a step towards making Dogecoin simpler to entry by means of conventional monetary programs. He additionally disclosed that Home of Doge’s partnership with 21Shares will assist extra folks get entangled because the Dogecoin ecosystem grows.
How 21Shares Dogecoin ETF Has Carried out So Far
Opposite to expectations, 21Shares’ lately launched Dogecoin ETF noticed weak efficiency on the primary day of buying and selling, signaling buyers’ lack of curiosity within the funding product. Knowledge from SoSoValue exhibits that TDOG skilled no inflows on January 22 and as a substitute declined by about 0.07%. Regardless of it being the second day of buying and selling, the DOGE ETF has nonetheless not registered any flows.
This lackluster efficiency has been noticed throughout all Dogecoin ETFs this week. Grayscales’ GDOG and Bitwise BWOW have reported zero inflows during the last week. The final time GDOG noticed constructive exercise was on January 8, when it obtained round $333,083 in investments. Earlier than that, the ETF recorded its highest inflows on January 2, totaling roughly $2.3 million. Since its launch in November 2025, GDOG ETF inflows have been unstable, with extra days of inactivity than vital funding.
Featured picture from iStock, chart from Tradingview.com
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