Dogecoin makes its Wall Street debut with 21Shares' ETF filing

21Shares, one of the world's leading crypto issuers, has filed an application with the US Securities and Exchange Commission (SEC) to launch the country's first exchange-traded fund (ETF) based on the popular Dogecoin meme.

If the company gets the green light, investors will acquire DOGE through established stock exchanges, much like they do with typical stocks, without having to own the cryptocurrency itself. This could broaden public access to Dogecoin and reinforce its standing in the financial landscape.

The proposed ETF is about to track the price of DOGE directly, avoiding the use of leverage or complex derivatives. All assets of the fund will be held securely on Coinbase's custody platform, a prominent and reputable digital token repository.

To promote the new fund, 21Shares is partnering with House of Doge, an organization focused on advancing and popularizing cryptos.

Investor interest in Dogecoin still gains momentum. In addition to 21Shares, other firms such as Grayscale, Bitwise and Rex Shares have filed for similar ETFs. According to the Polymarket platform, there is a 64% chance that a physically backed Dogecoin ETF will be approved this year.