21Shares AG, a prominent issuer of crypto ETPs, has joined forces with the House of Doge to introduce the first Dogecoin ETP officially endorsed by the Dogecoin Foundation.

This partnership seeks to present institutional investors with a regulated and transparent way to gain exposure to Dogecoin, a crypto that has evolved far beyond its origins as a lighthearted meme coin.

The Launch of the Dogecoin ETP

According to their press release, the 21Shares Dogecoin ETP will be fully backed by physical assets, providing investors with direct access to Dogecoin. Since its creation in 2013 as a fun alternative to Bitcoin, Dogecoin has become one of the most widely recognized digital currencies. 

It is particularly noted for its low transaction fees and fast processing speeds, making it popular among merchants such as Microsoft and AMC Theatres. Through this new ETP, traditional investors can now participate in the growth of Dogecoin without directly purchasing or managing the crypto.

Dogecoin’s Community Impact 

Dogecoin’s community has played a major role in its rise, with its supporters rallying behind initiatives like “Do Only Good Every day.” DOGE has been used in numerous charitable efforts, and its global community continues to drive its increasing adoption. As Dogecoin gains institutional recognition, the partnership with 21Shares offers a formalized, regulated method for investors to engage with the crypto in a more structured manner.

This collaboration signifies Dogecoin’s growing presence in the institutional sector. By launching this ETP, 21Shares is facilitating the cryptocurrency’s integration into the broader financial ecosystem, offering a legitimate investment vehicle for those seeking exposure to Dogecoin.

21Shares’ Continued Expansion 

In March, 21Shares filed a revised application with the U.S. SEC through Nasdaq to list an ETF on Polkadot. This submission follows a previous filing from January, where 21Shares outlined plans to launch the Polkadot Trust, a crypto ETF.

Originally, 21Shares had intended to list the Polkadot Trust on the Cboe BZX Exchange. However, Nasdaq’s latest filing now reveals that the exchange looks to list the 21Shares Polkadot Trust as commodity-based trust shares.

Push For Dogecoin ETFs

The push for Dogecoin ETFs has also been gaining momentum. Bitwise, an asset manager with over $12 billion in client assets, recently advanced its efforts to launch a Dogecoin ETF. NYSE Arca, a subsidiary of the New York Stock Exchange, filed a Form 19b-4 with the SEC on behalf of Bitwise.

Alongside Bitwise’s application, the NYSE Arca also submitted its Form 19b-4 seeking approval to list the Grayscale Dogecoin ETF. The SEC officially confirmed it had received the 19b-4 form.